The client has a subsidiary in the USA and another in Canada, which this year together accounted for 8% of the group’s revenue, profit and net assets. Neither subsidiary is audited although both use external professional accountant to prepare the financial statement. The client’s management was unwilling to ask local accountants to perform a full audit. Discuss the most appropriate type of opinion the auditor should issue. Explain briefly the reason for the opinion.

Answer rating: 100% (QA)

Facts of the Case The Auditee having two subsidiary in USA and Canada both subsidiary Financial Sta... View the full answer