Please help me wit his topic. what confuses me here is that at times i fail to understand what is meant by modify, qualify. do these too mean the same?
Confusion arises because ‘modify’ is used in two ways: a modified report and a modified opinion.
A modified report can refer to any modification to the basic report and could refer to the inclusion of an emphasis of matter paragraph. However, that would not be a qualification. However, the term ‘modified opinion’ does mean that the audit pinion has been modified and is therefore a qualification.
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