What is the purpose of Audit Report Qualification?

A qualified report is one in which the auditor concludes that most matters have been dealt with adequately, except for a few issues. An auditor’s report is qualified when there is either a limitation of scope in the auditor’s work, or when there is a disagreement with management regarding application, acceptability or adequacy of accounting policies. For auditors an issue must be material or financially worth consideration to qualify a report. The issue should not be pervasive, that is, the issue should not misrepresent the factual financial position. If issues are material and pervasive, the auditor issues a disclaimer or adverse opinion. A qualified audit report does not mean that your business is suffering, and it doesn't mean that your financial statement isn't transparent. It merely reflects the auditor’s inability to give a clean report.

A qualified opinion is given when a company’s financial records have not been presented in accordance with GAAP. Although the wording of a qualified opinion is very similar to an unqualified opinion, the auditor provides an additional paragraph including exclusions from the cleanliness of the financial statements and points out why the auditor report is not unqualified.The purpose of Audit report qualification is that the fact will be raveled to the user of report which is General public, lenders, stakeholders etc. and its responsibility of Auditors to be true and fare while presenting report.

The main purpose of audit report qualification is to convey the stakeholders that the proper accounting principles are not being followed.

the purpose is to inform external stakeholders of an auditor's objective opinion of a company's financial health. Many auditor's reports are made up of three paragraphs, which explain the responsibilities of the parties involved, describe how well generally accepted accounting principles were used, and finally form an opinion of the financial health of the company, according to Investopedia.

It's the report which the external audito issuing when he found there are a material breach or conflicts with the GAAP or IFRS 

Auditing is an examination of books of accounts, records to determine whether the financial statements are presenting the true and fair view of the organization. Also ensures, whether the books of accounts are properly maintained as required by the law.

An auditor's report is considered an essential tool when reporting financial information to users, particularly in business. Since many third-party users prefer, or even require financial information to be certified by an independent external auditor, many auditees rely on auditor reports to certify their information in order to attract investors, obtain loans, and improve public appearance

aligned  with Mr. ANIL and  Wilfredo

Agreed with Mr. Anil ..... the only thing i would like to add is that its not necessary that it should be according to GAAP because IFRS are more frequently used then US GAAP.

It should be according to accounting principles whichever company is following.