[Anonymous]

Hey guys,

Can anyone tell me what parts/paragraphs of the audit report are changed with the issuance of each opinion? I’m getting it confused:

1. Qualified

2. Adverse

3. Qualified (Scope)

4. Disclaimer

Thanks!

[Anonymous]

Answered it myself and for anyone else who might be asking the same thing:

1. Qualified/ Adverse Opinions due to material misstatements and Qualified Opinions due to scope limitations have identical modifications:
– Auditor's Responsibility Paragraph is modified
– Basis for Modification Paragraph is added after Auditor's Responsibility and before the Opinion Paragraph
– “Qualified” or “Adverse” Opinion Paragraph is added (Must have the type of opinion in the heading)

2. Disclaimer of Opinion modifications:
– Auditor's Responsibility Paragraph is modified
– Basis for Modification Paragraph is added after Auditor's Responsibility and before the Opinion Paragraph
– Disclaimer of Opinion Paragraph is added
*** INTRODUCTION PARAGRAPH MODIFIED to say the auditor was engaged to audit the financial statements

[Author]

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