At the conclusion of an audit engagement, the audit firm issues a report with their opinion. Discuss
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Question:
At the conclusion of an audit engagement, the audit firm issues a report with their opinion. Discuss the
following items related to the audit report/opinion:
What is the significance of the audit report date?
What are the three types of opinions that the auditor can choose from? (Hint: one of them is
"Unqualified")
What is an "emphasis of a matter"?
Under what circumstances would an auditor issue a "disclaimer"?
What is meant by "going concern"? How should an auditor deal with a potential going concern
issue?
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