Limitation on scope. Lorts Corporation of Maastricht, the Netherlands, (whose fiscal year will end December 31, 20X3) informs you on December 18, 20X3 that it has a serious shortage of working capital because of heavy operating losses incurred since October 1, 20X3. Application has been made to a bank for a loan, and the bank’s loan officer has requested financial statements.

The management of Lorts Corporation requests a meeting with you. You try to imagine the following independent sets of circumstances.

Required:

Indicate the type of opinion you would render under each of above set of circumstances. Give reasons for your decision.