Emphasis of matter

From my understanding, it’s a Modified Report but a unqualfied opinion

When an auditor gives his report, there’s 2 type of report.
1) Shows true and fair or Fair presetantion of company finanical position. No ‘if’s’ or but’s
Unmodified Report
2) Any if, buts, or
Modified Report

From Modified Report, the auditor can give an un-modified opinion i.e. The FS shows a true and fair view (so it is true and fair), BUT should draw attention to extract or disclouse XYZ

Or a modified opinion where there’s either material misstatement or no sufficient evidence to draw an opinion and base on the whether they are material and/or pervasive, you get Qualified/Adverse or Disclamier of opinion

Hope it helps

it means that ‘Except for the following misstatement’
the financial statements show a true and fair view