What are Unqualified, Qualified, Adverse & Disclaimer Audit Report ?
abhishek bhatt
(CA student)
(136 Points)
Replied 24 December 2008
disclaimer report is one when auditor do not get sufficient info/evidence frame an opinion regarding true and fair view he/she issues such report.eg: no report from branch, loss of doc. due to accident etc.
qualified report is one in which auditor has certain reservations regardinf certain matters like no compliance of audit and accounting standards or failure to maintain doc. as prescribed by law and so on .and it is duty of auditor to qualify report and give reason for that by using words "subject to".note:he only has reservation but it doen't mean that financial statements do not show true and fair view.
Anu Agarwal
(Manager-Audits)
(173 Points)
Replied 24 December 2008
Mr.Bhatt has answered ur two questions.
& i would suggest you to read your audit book.
u will get a clearer picture.
Jeet Biswas
(ACMA (in Service))
(5073 Points)
Replied 26 December 2008
thats right...these r very basic things...
CAclubindia
