Recently come across the audit report saying 'Unqualified report' and which is advised as good. May I know the difference between Qualified and Unqualified audit reports and why it is called so?
Thanks.
Sivasankar TS.
2 Replies
Srividya Murali
(Article Assisstant)
(211 Points)
Replied 19 March 2015
qualified audit report will be issued in certain cases where the auditor is not fully satisfied.
unqualified report is issued when the auditor is satisfied that the financial statements of his client is true and fair.
hope the following link would provide better understanding.
https://www.ehow.com/about_6674665_difference-qualified-unqualified-audit-report.H T M L
Siva
(Administration )
(31 Points)
Replied 19 March 2015
Thanks and wondering the terminology 😊 Thanks for your swift reply Srividya ji.
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