The Unmodified Opinion
When Is an Unmodified Opinion Issued?
An unmodified opinion is issued when the auditor concludes that the financial statements are presented fairly, in all material respects, in accordance with the applicable financial reporting framework and sufficient appropriate audit evidence has been obtained.
- Financial statements are free of material misstatement.
- Accounting principles are applied appropriately.
- Required disclosures are adequate.
- No material scope limitations exist.
Note
An unmodified opinion does not guarantee that the financial statements are perfectly accurate or free from every error.
Summary
An unmodified opinion is the highest level of assurance an auditor can provide.