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Discuss the three types of modified audit opinions

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Hawthorns receivables ledger has increased considerably during the year and the year-end balance is £2.5 million compared to £1.5 million last year. The finance director of Hawthorns has requested that a receivables circularisation is not carried out as a number of customers complained last year about the inconvenience involved in responding. The engagement partner as agreed to this request and you are tasked with identifying alternative procedures to confirm the existence and valuation of receivables.

Required

Problem (i) Describe substantive procedures you would perform to obtain sufficient audit evidence in relation to the above matter

Problem (ii) Discuss the three types of modified audit opinions

Reference no: EM132767085

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