What would you like to do?

What is unqualified audit report?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

While the word 'unqualified' may seem to have a negative spin on it, it is actually the best type of audit report a company can receive.
Once an audit is complete, the audit partner will produce a report the the owners if the company giving his/her opinion on the accounts. An unqualified report will say that there are no material misstatements and the accounts seem to be true and fair.
If there are issues with the accounts that the auditor needs to bring to the attention if the company owners, he/she will produce a modified (qualified) audit report instead.
4 people found this useful
Thanks for the feedback!

What is qualified and unqualified report?

  Unqualified Opinion report   The most frequent type of report is referred to as the Unqualified Opinion, and is regarded by many as the equivalent of a "clean bill

What is Qualified and unqualified auditor report?

At the end of audit engagement, an auditor can give hisÊopinion Êin  the auditor's report as either qualified or unqualified.  Unqualified report is one that the auditor i

What are components of an audit report?

Introductory paragraph   What was audited and the division of responsibility   * management for the financial statements  * the auditor for expressing an opinion   s

Differentiate between an unqualified and qualified audit report?

Unqualified Report: . It is that report which presents that company's financialstatements represents true and fair activities. . Qualified report: . It represents that comp

What is audit report?

An audit report is an opinion that is written by an auditor to show  if the financial statements are correct. The auditor will indicate  if they state the true financial pos

Components of unqualified report?

  Seven Parts of a Standard Unqualified Audit Report The seven parts of a standard unqualified audit report are the title, addressee, introductory paragraph, scope paragr

Basic elements of standard unqualified audit report?

The elements of an audit reportThese are as follows:1 Title:the report is addressed to the members of the company, remember that the auditor is under a statutory duty to repor

What is an unqualified report?

unqualified report is that Audit report in which Audit opinion specify that according to according to rules and regulation the firms financial statement portray true and fair

Distinquish between unqualified audit report and a qualified audit report?

UNQUALIFIED REPORT means firms financialstatements present true and fair dealings of business whileQUALIFIED financial statements means financial statements does notpresent tr

Differentiate between an unqualified and a qualified audit report?

Type your answer here... An audit report is said to be unqualified,when it is a clean report. Thus the auditor after examination of the organisation its record and financial s