Good Afternoon,
I am a bit confused on unqualified and unmodified opinion and report. what is the difference between the two? I was under the impression that you would use the term unmodified for a report and the term unqualified for an opinion but I have seen the BPP notes stating that auditors opinion is unmodified.
Please could this be explained?
Thank you!
Ask the Tutor ACCA AAA
unqualified and unmodified opinion
6y ago#1As reported by you, the BPP note is correct.
If you download our notes https://opentuition.com/acca/aaa/ you will find the contents page to be linked to the chapters and the pdf to be searchable - so it is very easy to navigate to "unmodified" in Chapter 25. The terms modified/unmodified relate strictly to the audit opinion. Qualified is just one of the three forms of modified opinion as summarised at the bottom of page 120.
"Unqualified" is no longer a term to be associated with auditor's reports or audit opinions (since the new and revised "report standards" became effective more than 3 years ago).
Thank you for this, makes sense.
6y ago#3You are most welcome!
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