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AUD Prep

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Question:

What is a 'Qualified' audit opinion?

Author: Monique Tyler



Answer:

The auditor expresses one or more reservations about (a) the financial statement presentation (due to a departure from the requirements of the applicable financial reporting framework that is material but not pervasive) or (b) the audit engagement (due to a scope limitation about a matter for which the auditor was unable to obtain desired audit evidence, the possible effect of which is material but not pervasive).


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