What are the Alternatives to an Unqualified Opinion?
If an auditor cannot issue an unqualified opinion, there are other types of audit opinions that may be issued:
Qualified Opinion: Indicates that the financial statements are fairly presented, except for a specific issue that the auditor believes is material but not pervasive. Adverse Opinion: Indicates that the financial statements are materially misstated and do not present a true and fair view of the company's financial position. Disclaimer of Opinion: Issued when the auditor is unable to obtain sufficient evidence to form an opinion on the financial statements.