You are the senior auditor in Salim & Co leading the audit of your client Gazi Group. The audit for the financial year ended 31 December 2020 is at the completion stage. You have gathered the following information while reviewing your teams audit working papers: Trade receivables recognized in Gazi Groups current assets includes a balance of $600,000 relating to a specific customer called Halima Co. Audit procedures indicate that at 31 December 2020, the balance was more than 9 months overdue for payment. In relation to this balance your audit team have conducted the following audit procedures: Agreement of the balance to the Halima Co invoices and original order. Discussion with Gazi Group credit controller who confirms Halima Co is unlikely to pay back the $600,000 owing. Halima Co was included in the trade receivables direct confirmation audit procedure, but no reply was received from the company. Consequently, you have concluded that: Receivables is overstated by $600,000 Deferred tax liability is overstated by $114,000 Profit and retained earnings for 2020 are overstated by $486,000 The matter is material but not pervasive to the financial statements. Required: As the senior auditor, using the above information, write what should be included in the Basis for Qualified Opinion and Opinion sections of the audit report, knowing that the matter is material but not pervasive to the financial statements?