أنشئ حسابًا أو سجّل الدخول للانضمام إلى مجتمعك المهني.
<p>(a). They are fully satisfied with the results of the audit work they conducted</p> <p>(b). They are not fully satisfied with the results of the audit work they conducted</p> <p> </p>
None of the above..Qualified audit reports means or includes The Accounting Information provided is not according To GAAP principles and rules..
Qualified opinion is not necessarily negative and may indicate a limited scope of examination, or that the auditor was unable to directly verify certain information.
None of the both !
That means that they taken some reserves on finacial statements
A Qualified Opinion report is issued when the auditor encountered one of two types of situations which do not comply with generally accepted accounting principles, however the rest of the financial statements are fairly presented. This type of opinion is very similar to an unqualified or "clean opinion", but the report states that the financial statements are fairly presented with a certain exception which is otherwise misstated. The two types of situations which would cause an auditor to issue this opinion over the Unqualified opinion are:
Unqualified opinion/report
An opinion is said to be unqualified when the Auditor concludes that the Financial Statements give a true and fair view in accordance with the financial reporting framework used for the preparation and presentation of the Financial Statements. An Auditor gives a Clean opinion or Unqualified Opinion when he or she does not have any significant reservation in respect of matters contained in the Financial Statements.
An Adverse Opinion is issued when the auditor determines that the financial statements of an auditee are materially misstated and, when considered as a whole, do not conform with GAAP. It is considered the opposite of an unqualified or clean opinion, essentially stating that the information contained is materially incorrect, unreliable, and inaccurate in order to assess the auditee's financial position and results of operations. Investors, lending institutions, and governments very rarely accept an auditee's financial statements if the auditor issued an adverse opinion, and usually request the auditee to correct the financial statements and obtain another audit report.
A Disclaimer of Opinion, commonly referred to simply as a Disclaimer, is issued when the auditor could not form and consequently refuses to present an opinion on the financial statements. This type of report is issued when the auditor tried to audit an entity but could not complete the work due to various reasons and does not issue an opinion.
Is issued when they are of the opinion the accounts are not okay.
is an opinion resulting of a deviation from GAAP
In accordance with the International Standards on Auditing ISA-705 when an Auditor issue a qualified opinion it means that either:
1. The auditor is unable to obtain sufficient appropriate audit evidence (i.e limitation on scope of audit) on which to base the opinion, but the auditor concludes that the possible effect on the financial statements of undetected misstatements, if any, could be material but not pervasive.
OR
2. The auditor having obtained suffuicient appropriate audit evidence, concludes that misstaements (i-e non compliance with GAAP/accounting principles, misstatement in account balances and disclosures), individually or in the aggregate, are material, but not pervasive, to the financial statements.
