Your client, Huge Telephone Company (HTS), has been hitting troubled times, due to deregulation- There is competition for local telephone business, long distance telephone business, and the high speed lines provided via the telephone network have not been selling as well as expected. A new quirk is that many large cities are going to provide free wireless services by installing wireless transmitters on telephone polls, and is only offering to pay a pittance for the use of the telephone polls. HTC has been able to remain reasonable prots by cutting staff to a bare minimum and outsourcing many services. However, due to several labour contracts and federal legislation that will increase services, you have doubts about the ability of the company to renew a major bond issue this coming year. Required How does the above information affect the audit report