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What is a cleaner simpler alternative that most cpa firms

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Question 1: A client has never been audited. The client's bank asks them to have a CPA perform an initial audit for the year ended December 31, 2018. Because of the late appointment (i.e. on October 1, 2018) of your audit firm to this initial audit engagement, you are unable to observe the client's opening (i.e. December 31, 2017) physical inventory. Rather than issuing a scope limitation report on a full set of financial statements for the year ended December 31, 2018, what is a cleaner, simpler alternative that most CPA firms recommend? (Hint: Issue less than a full set of financial statements)

Reference no: EM132543609

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