Document 3 .docx - SHANELLE C. CAMRAL BSA-E1-2 FOUR TYPES...

SHANELLE C. CAMRAL BSA-E1-2
FOUR TYPES OF AUDIT REPORTS
QUALIFIED OPINION
An auditor will offer a qualified opinion in cases when a company's financial records have not been kept
in compliance with GAAP but no misrepresentations have been found. An unqualified opinion can be
written in a manner that is quite similar to that of a qualified view. However, a qualified opinion will also
include a second paragraph outlining the reasons why the audit report is qualified.
UNQUALIFIED OPINION
Unqualified opinions, also known as clean opinions, are statements in an audit report that are made
after an auditor has determined that there are no material misrepresentations in any of the small
business’s financial records. The financial records have also been kept in accordance with the guidelines
known as Generally Accepted Accounting Principles, according to an unqualified opinion (GAAP). The
best kind of report a company can get is this one.