The auditor’s opinion can be categorized into four types:
1. Unqualified Opinion: This is a clean report indicating that the financial statements are free from material misstatements and fairly present the financial position of the company. 2. Qualified Opinion: Issued when there are minor issues that do not pervasively affect the financial statements. 3. Adverse Opinion: Indicates that the financial statements are materially misstated and do not represent the company’s financial position accurately. 4. Disclaimer of Opinion: Given when the auditor cannot obtain sufficient evidence to form a basis for an opinion.