[CirocOnTheRock]

Can you issue a unmodified opinion on the BS but have a disclaimer on the IS CF RE (ex: b/c you did not get beginning inventory numbers). If this is something you can do would it not be considered a piecemeal opinion?

BEC

REG

AUD

[Adam]

No, you only issue one opinion on all financial statements being issued, you may omit the cash flow statements if the client doesnt not require it or want it to be issued.

If you dont have inventory numbers you would not be able to issue a unmodified/unqualified opinion on the statements anyways, as with an audit you have to have proof for a clean opinion..for a review possibly issue a statement of disclaimer saying otherwise known to be fairly represented with the exception….etc

[Joetse]

I think you can issue an unqualified on the complete set of F/S, and qualified on single financial statement ONLY if you issue a separate auditor's report for the single financial statement and express a separate opinion for each engagement (You MIGHT be able to issue together if the report on the complete set is an unmodified opinion, but I would never do that as an auditor, as that would confuse users). You just can't dislcaim or adverse one statement, while giving an unqualified/qualified on the others, you'd have to disclaim (or adverse opinion) on all of them. What you are talking about is a disclaimer on prior year IS/CF, and unqualified current year everything. You can have a different opinion in the prior year.

[Author]

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