During your audit of racewaycom inc you conclude that

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Reference no: EM13597256

During your audit of Raceway.com Inc., you conclude that theres is a possibility that inventory is materially oversated. The Client refuses to allow you to expand the scope of your audit sufficiently to verify whether the balance is actually misstated. For this situation a. Identify if the condition requires a modification of or a deviation from an unqualified standard report. b. State the level of materiality as immaterial, material, or highly material. If you cannot decide the level of materiality, sate the additional information needed to make a decision. c. Given your answers in parts a and b, state the type of audit report that should be issued. If you have not decided on one level of materiality in part b, state the appropriate report for each alternative materiality level.

Reference no: EM13597256

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