Problem

In auditing a public company, Natalie, an auditor for N. M. Neal & Associates, identif...

In auditing a public company, Natalie, an auditor for N. M. Neal & Associates, identifies four deficiencies in ICFR. Three of the deficiencies are unlikely to result in financial misstatements that are material. One of the deficiencies is reasonably likely to result in misstatements that are not material but significant. What type of audit report should Natalie issue?

a. An unqualified report.

b. An adverse report.

c. A disclaimer of opinion.

d. An exculpatory opinion.

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