Modifications to the auditor's report

Area 4: Forming Conclusions and Reporting (10-20%)

Your Progress

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Topics

Qualified, adverse, and disclaimer opinions
Emphasis-of-matter and other-matter paragraphs

Lessons

Audit Reports

Study Frameworks

Types of Audit Reports

Audit Report Types

Unmodified Opinion

Standard (clean) report

Emphasis-of-Matter paragraph

Other-Matter paragraph

Modified Opinions

Qualified — except for

Adverse — material & pervasive

Disclaimer — unable to obtain evidence

Audit Opinion Selection

Are the financial statements free of material misstatement?

Yes

Is the auditor free from scope limitations?

Yes

Unmodified (clean) opinion

Is the scope limitation pervasive?

Yes

Disclaimer of opinion

Qualified opinion (scope limitation)

Is the misstatement pervasive to the financial statements?

Yes

Adverse opinion

Qualified opinion (misstatement)

Practice These Topics(35 questions)