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The link between the ICFR and audit of financial statements is: ICFR is only required when a modified opinion is given The audit of ICFR

The link between the ICFR and audit of financial statements is: ICFR is only required when a modified opinion is given The audit of ICFR should be integrated with the audit of financial statements Assessment of ICFR's is optional while audit opinions are required Audit reports do not have to include any references to ICFR

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