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An unqualified audit report is considered the standard audit report. This report is issued when the audit has been performed in accordance with applicable auditing
An unqualified audit report is considered the standard audit report. This report is issued when the audit has been performed in accordance with applicable auditing standards, the auditor has gathered sufficient evidence, and the auditor believes that the financial statements conform to GAAP. Reflect on situations when the auditor cannot issue the standard unqualifiedunmodified audit report. Discuss type of audit report and the rationale for issuing that type.
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