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You complete the audit of Munich Department Store, and in your opinion the financial statements are fairly presented. ON the last day of the audit,
You complete the audit of Munich Department Store, and in your opinion the financial statements are fairly presented. ON the last day of the audit, you discover that one of your supervisors assigned to the audit has a material investment in Munich. a. Identify if this requires a modification of or a deviation from an unqualified standard report. b. State the level of materiality as immaterial, material, or highly material c. given your answers, state the type of audit report that should be issued
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