You are the auditor of MMK Ltd (MMK). Trade receivables is the most material account for MMK. However, the directors have informed you that two very large debtors with material balances are not to be circularised because of the problems caused by the circularisation last year. At the conclusion of the audit, you are satisfied that the financial report (including trade receivables) is presented fairly as alternative audit procedures were used to examine the debtors for which confirmation letters could not be sent.

Determine the appropriate audit opinion to be issued. Give reasons why