Types of Audit Reports

[Suze]

Can someone list and explain the types of audit reports.

[dragoon_alex]

There are 5 types of audit report:

Unqualified Report
It's means F/S give true and fair view, and no material misstatement.

Unqualified Modified report
It's means F/S give true and fiar view, but have some uncertain issue.

Qualified report
It's means there have material misstatement, but except that F/S give true and fair view

Adverse report
It's means there have very serious misstatement, so the F/S don't give true and fair view

Disclaimer report
It's means the client don't assess any information to auditors, so auditors can't make any decision for the report

Hope these are useful to you:cool:

[Suze]

Hi alex

It is indeed useful for me. Thanks.

[oyewa]

it's useful