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Kim Smith.
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ilham9089
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What exactly is the difference between an unqualified opinion and an unmodified opinion?
Kim Smith
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If you take a look at our notes – Chapter 6 – an audit opinion is either “unmodified” or “modified”. A modified opinion is either “qualified”, “adverse” or “a disclaimer of opinion”.
These are the five terms of the so-called “reporting ISAs” (ISA 700 series).
“Unqualified” is a very old and technically obsolete term that pre-dates the reporting ISAs – but I have no doubt that in the profession some people will use this term – though what they actually mean is unmodified.
ilham9089
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I see. Thank you for clearing my confusion.
Kim Smith
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You are welcome!
ilham9089
Kim SmithViewing 4 posts - 1 through 4 (of 4 total)
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