This lecture is so amazing! I am about to take my competency exam tomorrow and I really believe this will help me a lot! How I wish you were one of my professor!
Wow you made auditing easier for me . Do you offer private tutoring like having one on one tutoring for money . If you do have one please help am writing in few weeks to come and am willing to pay
Thank you! We actually do not offer private tutoring, but if you become a UWorld Roger CPA Review student, you do receive access to all our lectures of CPA Exam topics!
Great question SmartyYang! Those terms can get confusing. An unqualified opinion is an independent auditor's judgement that the financial statements are fairly presented and are in accordance with GAAP. A qualified opinion may be issued when the auditor (to name a few): (1) determines that there is a material issue with regard to the accounting policies, (2) the financial statements deviate from GAAP, or (3) the statements have inadequate disclosure. With that being said, these terms have been updated to the following: Unmodified ( formerly unqualified) and Modified (formerly qualified). Let us know if this response answers your question! Thanks for watching!
