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Question 4 (10 points) Pen and Quill, CPAs, were engaged to perform an audit of...

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Question 4 (10 points) Pen and Quill, CPAs, were engaged to perform an audit of the financial statements of Paper, Inc. Paper's management would not allow Pen and Quill to confirm any of the accounts receivable. All other auditing procedures were performed as considered necessary by Pen and Quill, and no problems were found. However, Pen and Quill, were unable to satisfy themselves with regard to the balance in accounts receivable. State what type of opinion should be issued on the company's financial statements. Briefly explain your rationale. Indicate which paragraphs, if any, of the standard report would be modified and what would be changed

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