Qualified opinion

A qualified opinion is a modified audit opinion used when misstatements are material but not pervasive, or when sufficient appropriate evidence cannot be obtained and the possible effects are material but not pervasive. The report explains the basis and modifies the opinion appropriately. The auditor identifies the issue in a basis-for-qualified-opinion section and uses appropriate except-for wording. Whether the matter is a known misstatement or an inability to obtain evidence changes the explanation, even though either can produce a qualification when the effect is material but not pervasive.