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What type of audit report should issue

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Problem 1: Pelegin Ltd has a major subsidiary in Spain. As your audit firm does not have an office in Spain, you have used the Spanish audit firm Garcia and Navas as a component auditor for the subsidiary. During the audit, Gracia and Navas had its accreditation revoked by the Spanish corporate regulator and they are no longer legally able to provide audit services. There is no time to appoint a new component auditor and your own staff are not able to conduct the audit of the Spanish subsidiary, due to legal restrictions and language difficulties. What type of audit report should you issue?

Reference no: EM132766003

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