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Dear Ken,
I want to clarify the following matter does unmodified and unqualified means the same? Thanks for the clarification!
Sorry Ken, I got a bit confused. Unqualified is only when the practitioner concludes that opinion is adverse or disclaimer right?
If the auditor concludes that he/she cannot say that the FS show a trus and fair view, then the audit opinion is modified to:
Qualified ie ‘except for’
Disclaimer
Adverse(Note that ‘qualified’ is often used incorrectly to cover disclaimers and adverse opinions as well).
Other parts of fhe audit report can also be modified without the opinion being modified. For example, adding a paragraph relating to going concern problems or adding an emphasis of matter paragraph.
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