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What type of auditor report would be issued in each of the following cases? Slade Company has material investment in stocks of subsidiary companies. Stocks
What type of auditor report would be issued in each of the following cases? Slade Company has material investment in stocks of subsidiary companies. Stocks of the subsidiary companies are actively traded in the market, but the CIA firm's engagement does not extend to any subsidiary company. Management insists that all investment shall be carried at original costs, and the CIA firm is satisfied that the original costs are accurate. The CIA firm believes that the client will never ultimately realize a substantial portion of the investments, and the client has fully disclosed the facts in notes to the financial statements
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