Audit report and opinion modification

Please read OT notes - they are brief but accurate. Only an audit opinion is modified/unmodified - there is no such thing as a modified report. Any error (including omission) in disclosure in the notes to the financial statements is CLEARLY a misstatement of the financial statements - so if material, opinion must be qualified "except for". An EoM MUST refer to adequate disclosure and cannot be used otherwise.

OpenTuition's Notes! https://opentuition.com/acca/aa/