The unmodified opinion audit report with emphasis-of-matter paragraph does not meet the criteria of a complete audit with satisfactory results.

Question

Quizplus · Accepted Answer

An unmodified opinion audit report with an emphasis-of-matter paragraph still indicates that the financial statements present fairly, in all material respects, the financial position of the entity. The emphasis-of-matter paragraph is simply used to draw attention to a matter appropriately presented or disclosed in the financial statements that is of such importance that it is fundamental to users’ understanding of the financial statements.

The Unmodified Opinion Audit Report with Emphasis-Of-Matter Paragraph Does Not