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Royal Paints is principally a wholesaler of painting materials to the building trade but it also runs two cash and carry outlets open to the public. $125,000 of the company's recorded revenue of $750,000 comprises cash sales. There is no system of control over such sales that the auditor could rely on and no satisfactory audit procedures that could be adopted to confirm independently that all cash sales were properly recorded. What form of audit opinion should the auditor give? A. A qualified opinion due to an inability to obtain sufficient appropriate audit evidence as the issue is material but not pervasive. B. A report with and unmodified opinion with no emphasis of matter paragraph. C. A report with and unmodified opinion but with an emphasis of matter paragraph drawing the users' attention to the fact that in common with many cash businesses it is difficult to confirm completeness of recording. D. 'Disclaimer' as the uncertainty is so pervasive that the financial statements as a whole could be misleading. |