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An auditor of a Canadian company that is a subsidiary of a large public company...

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Accounting

An auditor of a Canadian company that is a subsidiary of a large public company listed on the SEC identifies a material weakness in internal control. The auditor:

1. must issue an adverse opinion on internal control over financial reporting.

2. may still be able to issue an unqualified opinion on internal control over financial reporting.

3. will be unable to issue an unqualified opinion on the financial statements.

4. must issue a qualified or disclaimer of opinion on internal control over financial reporting.

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