Effect of Reference to a Component Auditor on the Auditor's Report: How should the “Opinion” section refer to the component auditor's work if it is to be included in the Group Auditor's Report?

I. The “Opinion” section should refer to “In our opinion, based on our audit(s) and the report of the other auditors, …” The opinion section should include an additional paragraph that identifies the component(s) audited by other auditors and the relative magnitude of the financial statements involved. ii. The “Basis for Opinion,” “Management Responsibilities,” and “Auditor's Responsibilities” sections are unchanged by the reference to component auditors.