$1.$ Discuss the different types of audit reports that can be issued explaining the form and content and why they are issued:

a$.$ Standard unqualified$($unmodified$)$ audit reports on financial statements and when it is issued, and unqualified report with explanatory language describing a justified departure from US GAAP, an unqualified report with substantial doubt about the client being a going concern, and an unqualified report with emphasis of important matter.

b$.$ qualified opinion reports

c$.$ adverse opinion reports.

d$.$ disclaimer of opinion reports.

$2.$ Does this mean that publicly traded companies always $"$do things right" and what are the implications of a qualified or an adverse opinion for a publicly traded company? Do non$-$public entities receive opinions other than unqualified?

$3.$ Paraphrase the opinion paragraph for an unqualified, qualified, adverse, and disclaimer of opinion report.