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Dear tutor
should we say, there are two kinds of opinions, unmodified or modified. on the audit report,
unmodified -opinion paragraph
modified – qualified, adverse and disclaimer paragraphoptional paragraphs – only appears on audit report if there is an issue, including ” material uncertainty related to going concern”, “emphasis of matter paragraph”, “other matter paragraph”, ” other information paragraph”
the reaming parts listed on opentuition AAA notes should all appear on audit report.
if the going concern issue has been disclose properly, the audit report still can be unmodified, is it correct?
Many thanks
Yes – everything you say is correct EXCEPT in the last sentence you mean audit OPINION is unmodified (not “report”).
(There is no such thing as a “modified-unmodified report” https://opentuition.com/topic/audit-report-and-opinion-modification)
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