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19-12-2022
Business

Answered

TCO B) Morris, CPA suspects that a pervasive scheme of illegal bribes exists throughout the operations of Worldwide Import-Export, Inc., a new audit client. Morris notified the audit committee and Worldwide's legal counsel, but neither could assist Morris in determining whether the amounts involved were material to the financial statements or whether senior management was involved in the scheme. Under these circumstances, Morris should disclaim an opinion on the financial statements. express an adverse opinion on the financial statements. issue a special report regarding the illegal bribes. express an unmodified opinion with a separate explanatory paragraph.

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