Question: Section B: Case Studies Question 3 (12 marks) 1. On 28 February 2020, Stu & Dent, Public accountants, completed the audit fof Shylo Ranch Ltd

Section B: Case Studies Question 3 (12 marks) 1. On 28 February 2020, Stu & Dent, Public accountants, completed the audit fof Shylo Ranch Ltd for the year ended 31 December 2019. A rent fire destroyed the accounting records concerning the cost of Shylo's livestock. These were the only records destroyed. The auditors are unable to obtain adequate evidence concerning the cost of the livestock, which represents about 8% of total assets. These are Australian Accounting standard-based financial statements and notes, and the auditors found no other problems during the audit. What type of audit report should be issued? Explain the reason for your
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