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You are auditing Nuclear Chemicals, a manufacturer of various chemicals for the military, for the year ended September 30. On September 1, one of its
You are auditing Nuclear Chemicals, a manufacturer of various chemicals for the military, for the year ended September 30. On September 1, one of its manufacturing plants caught fire, releasing toxic chemicals into the surrounding area. 2,000 people were killed and numerous others paralyzed. The company's legal counsel indicates that the company is liable and that the amount of the liability can be reasonably estimated, but the company refuses to disclose this information. What type of report would you issue? Explain.
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