Qualified audit report

Hi...

In case of audit report, is it mandatory to end a qualified report with the opinion paragraph..? As per SA 706, emphasis para should be included after opinion para. So the audit report ends with emphasis matter paragraph and not the opinion para. Is it ok, or is there any requirement that the report should end with opinion para only??? 

Replies (3)

Para 7 of the SA-706 clearly states that

 

When the auditor includes an Emphasis of Matter paragraph in the auditor’s report, the auditor shall Include it immediately after the Opinion paragraph in the auditor’s report.
 
And Independent Audit Report is ending with the reporting requirement laid down in Sec 227(3) of Companies Act, 1956.
 
 

yeah... but in my case, the audittee is not govened by the companies act 1956. 

Then, the audit report will end up with Emphasis Para

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