Please enable JavaScript.
Coggle requires JavaScript to display documents.
Unit 5: Qualified Report - Coggle Diagram
Unit 5: Qualified Report
Disclaimer of Opinion:
Issued in cases of:
Significant scope limitations
Doubt about going concern
Uncertainties or restrictions
Legislation issues with uncertain outcomes
Lack of independence or conflicts of interest
Principles for Qualified/Negative/Adverse Opinion
Provide reasons for qualification
Use clear language (e.g., "subject to...")
Reproduce notes of a qualifactory nature
Quantify material effects if possible
Address circumstances leading to the negative opinion
Adverse/Negative Opinion - Issued when:
Material disclosure issues
Dissatisfaction with truth and fairness
Discrepancies, mistakes, non-compliance
Fraud or scam by management
Inadequate internal control
Scope limitations or disagreements