When the auditor modifies the audit opinion the

When the auditor modifies the audit opinion, the auditor shall
use the heading “Qualified Opinion”, “Adverse Opinion”, or
“Disclaimer of Opinion”, as appropriate, for the opinion
paragraph.
?
When the auditor expresses a qualified opinion due to a MM
in the FS, the auditor shall state in the opinion paragraph that, in
the auditor’s opinion, except for the effects of the
matter(s)described in the Basis for Qualified Opinion paragraph:
?
a. The FS present fairly, in all material respects (or give a
T&F View) in accordance with the applicable FRFW when
reporting in accordance with a fair presentation framework; or
?
b. The FS have been prepared, in all material respects, in
accordance with the applicable FRFW when reporting in
accordance with a compliance framework.
?
When the modification arises from an inability to obtain SAAE,
the auditor shall use the corresponding phrase “except for the
possible effects of the matter(s)...” for the modified opinion.
?
When the auditor expresses an adverse opinion, the auditor
shall state in the opinion paragraph that, in the auditor’s
opinion, because of the significance of the matter(s) described in
the Basis for Adverse Opinion paragraph:
?
i. Inclusion of this paragraph heading makes it clear to the
user that the auditor’s opinion is modified and indicates the
type of modification.
?
ii. When the auditor expresses a qualified opinion, it would
not be appropriate to use phrases such as “with the foregoing
explanation” or “subject to” in the opinion paragraph as these
are not sufficiently clear or forceful.
?
When the auditor expresses a qualified or adverse
opinion, the auditor shall amend the description of the
auditor’s responsibility to state that the auditor believes
that the audit evidence the auditor has obtained is
sufficient and appropriate to provide a basis for the
auditor’s modified audit opinion.
? conducting the audit in accordance with
Standards on Auditing issued by the Institute of
Chartered Accountants of India. Because of the
matter(s) described in the Basis for Disclaimer of
Opinion paragraph, however, we were not able to
obtain SAAE to provide a basis for an audit
opinion”.
?
When the auditor disclaims an opinion due to an
inability to obtain SAAE, the auditor shall amend the
introductory paragraph of the auditor’s report to state
that the auditor was engaged to audit the FS. The auditor
shall also amend the description of the auditor’s
responsibility and the description of the scope of the
audit to state only the following: “Our responsibility is to
express an opinion on the FS based on
ClearIPCC.in

1 SA 706 Emphasis of Matter Paragraphs and Other Matter
Paragraphs in the Independent Auditor’s Report
?
in the auditor’s judgment it is necessary to draw users’
attention to a matter presented or disclosed in the FS and is
fundamental to users’ understanding of the FS, the auditor shall
include an Emphasis of Matter paragraph in the auditor’s
report provided the auditor has obtained SAAE that the matter is
not materially misstated in the FS. Such a paragraph shall refer
only to information presented or disclosed in the FS.