What are Unqualified, Qualified, Adverse & Disclaimer Audit Report ?
4 Replies
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...
Recent Topics
- Gratuity under CTC
- GST refund paid as estimated tax liability
- Salary Income and Professional services income
- Sec 54 and TDS on sale of property
- Airbnb Manager - I manage properties for owners
- Wrong head ed for late fee
- Inter Company trnafer
- Job work-Reg
- Who is liable to pay GST if bank charges excl GST
- Cost of Acquisition IPO cases
Related Threads
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
