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Event Description

Audit reports may need to be modified from the standard unqualified audit report in various circumstances. This module discusses common circumstances leading to modified audit reports and other special considerations, such as initial or group audits.

Designed For

Accountants responsible for modifying financial statement audit opinions in appropriate circumstances


  • Discuss modified audit opinions
  • Explain initial audit special considerations
  • Describe considerations when a predecessor auditor is relevant
  • Describe group financial statement audit considerations
  • Discuss using the work of specialists and others on an audit

Major Subjects

  • Examples of differing opinions in comparative financial statements
  • Example modified audit opinions, including qualified, adverse and disclaimer of opinion
  • Emphasis-of-matter and other-matter explanatory paragraphs in a modified audit report
  • Initial audit engagements, including predecessor auditor considerations and audit report impact
  • Group audit engagements, including the impact of a component auditor on the group audit report
  • The impact of using the work of others on an audit report


Experience on complex audit engagements


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