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qualified opinion i think when you confirm that the FS is true and fair view except for…
if the FS is not true and fair view, then you need to modify your opinion which can result to adverse opinion or disclaimerif FS are true fair and free of material misstatements then the report is unqualified report(unmodified).
modified reports are of three types: qualified, adverse and disclaimer of opinion.
qualified report: FS are materially misstated but not pervasive.
adverse: FS are materially misstated and pervasive.
qualifeid report: insufficient evidence but not pervasive.
disclaimer of opinion: insufficient opinion and pervasive .
remember emphasis of matter and other matter paragraphs are not modifications and can be added with any of these reports.hope it helps 🙂
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