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Audit report - qualified and disclaimer of opinion

CA Bijay Shrestha (Never Give up....No matter what....) (858 Points)

02 April 2017

Dear Friends,

Can an Auditor give both Qualified Opinion and Disclaimer of Opinion in the same Audit Report ?

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5 Replies

Studentsca (CA Practice ) (3577 Points)
Replied 02 April 2017

No that is not possible.

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CA Bijay Shrestha (Never Give up....No matter what....) (858 Points)
Replied 02 April 2017

Actually the Auditor wants to give qualified opinion in some area and for some other area he couldnot get the enough evidence, thats why he wants to give disclaimer also.

Studentsca (CA Practice ) (3577 Points)
Replied 02 April 2017

Qualified opinion is appropriate when auditor concludes that Financial Statements as a whole are not free from Material Misstatements however the Misstatements are not pervasive in nature. However an Auditor Disclaims an Opinion if he concludes that he is unable to obtain Sufficient and Appropriate Audit Evidence that Financial Statements as a whole may not be free from Material Misstatements. Look at overall Financial Statements Level for forming an Audit Opinion.

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CA Bijay Shrestha (Never Give up....No matter what....) (858 Points)
Replied 02 April 2017

Originally posted by : Studentsca
	Qualified opinion is appropriate when auditor concludes that Financial Statements as a whole are not free from Material Misstatements however the Misstatements are not pervasive in nature. However an Auditor Disclaims an Opinion if he concludes that he is unable to obtain Sufficient and Appropriate Audit Evidence that Financial Statements as a whole may not be free from Material Misstatements. Look at overall Financial Statements Level for forming an Audit Opinion.