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audit report

Jitender Kumar Sultania (CA Student) (132 Points)

02 January 2009

Please,

Define what is qualified report in audit report ?

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madhur gupta (student/article ) (1022 Points)
Replied 04 January 2009

QUALIFIED AUDIT REPORT is one which auditor makes some qualification example whole books of accounts are in confirmity with provisions of law except one or few aspects (say dep.is not as per AS) then auditor can make qualofication like

all the books are in confirmity with prescribed AS SUBJECT TO DEP.

in short where few provisions r voilated.

it is different from disclaimer,in which auditor remarks that no opinion can b given after checking books

unqualified report means clean report without any reservation......

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Zainul Tawawalla (Audit ) (101 Points)
Replied 05 January 2009

Hi,

A qualified aidit report is a report where there are some deviations from accounting standards or there are some misstatements in the financial statements but the same are not so serious that it affects the true and fair view of the financial statements. In case of a qualified report, the auditor opines that the financial statements give the true and fair view except to the qualification/s mentioned.