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hello sir.
I had got confused with the example (qualified and disclaimer of opinion) provided in the lecture notes.Could you please explain those concepts with other example.
looking forward for your reply soon.Thank you
Qualified = ‘except for’. The problem is limited.
Disclaimer = ‘we cannot express an opinion’. The problem is pervasive.
Where one changes to another is primarily materiality. To modify the opinion at all the problem must be material. If the problem is mmaterial but isolated, then most of the FS are OK except for one area. If the problem is so big that essentially the FS are a waste of paper then it is a disclaimer (or adverse if appropriate).
Listen the lectures if you haven’t dpone so laready.
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