What is meant by modified but unqualified Audit report?

Auditors report any incidence of a business they find that suggest mismanagement, waste and fraud. -An auditor's oponion is contained with his audit report. -Modified audit opinions are given for 2 reasons : scope limitation, and circumstances. *A modified but unqualified, will still say true and fair, but there are amphasis of matter (if any material uncertainty exists, or other matterms paragraph after the opinion

If modified is placed then how it could be true & fair

A modified unqualified report is shows financial statements need further improvements & clarification. 

Agree with Mr Soliman in full.

There are three types of modified audit opinions. The first is an opinion in which the auditor states that there is a possibility of a misstatement in the client’s financial records that is “material but not pervasive.” In this case, the auditor states that everything in the audit is fairly presented with the exception of a specific item, and why that item is an exception. The second type of modified audit opinion comes with a disclaimer or opinion, which is used when the misstatement in the financial record is due to a scope limitation and is both material and pervasive. The third modified audit opinion is adverse; in this case, the misstatement is both material and pervasive, and must originate from a departure from applicable financial reporting framework.

Thanks for invitation 

A modified audit report which, although the opinion is unqualified, may require additional detail emphasizing particular matters contained within the financial statements. An audit report may be modified to include an emphasis of matter paragraph or an other matter paragraph. These types of paragraphs the subject of ISA 706.and the purpose of these paragraphs is to provide additional communication in the audit report when the auditor wishes to draw the attention of users to  a particular matter in the financial statements. They do not modify the audit opinion. An emphasis of matter paragraph draws the attention of the users to an item that is included in the financial statements and which the auditor considers fundamental to an understanding of the financial statements. An other matter paragraph deals with a matter which is not included in the financial statements but is relevant to an understanding of the audit, the auditor,'s responsibilities or the audit report.

A modified unqualified audit report indicates the financial statement is true & fair but some specific matters are there in which further clarification & emphasis needed.