An unqualified opinion represents an auditor's finding that the company's financial statements unfairly represent the company's financial position.

Question

Quizplus · Accepted Answer

An unqualified opinion represents an auditor's finding that the company's financial statements are fairly presented in all material respects, in accordance with the applicable financial reporting framework (such as GAAP or IFRS). Therefore, it is the opposite of the statement given in the question. An unqualified opinion is a good outcome for the company as it indicates that the auditor has no significant concerns about the financial statements.

An Unqualified Opinion Represents an Auditor's Finding That the Company's