Business, 19.11.2019 00:31 nicolemaefahey

Mcpherson corp. does not make an annual physical count of year-end inventories, butinstead makes weekly test counts on the basis of a statistical plan. during the year, saramullins, cpa, observes such counts as she deems necessary and is able to satisfy herselfas to the reliability of the client’s procedures. in reporting on the results of her examination, mullins: (1) can issue an unqualifi ed opinion without disclosing that she did not observe year-endinventories.(2) should comment in the scope paragraph as to her inability to observe year-end inventories, but can nevertheless issue an unqualifi ed opinion.(3) is required, if the inventories are material, to disclaim an opinion on the fi nancialstatements taken as a whole.(4) should, if the inventories are material, qualify her opinion.

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