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What is a cleaner that most CPA firms recommend

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Reference no: EM132559263

Question - 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?

Reference no: EM132559263

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