Frequently asked questions about the Audit Qualification
Audit Qualification (AQ)
Does the Audit Qualification entitle me to sign audit reports? How long will I have the Audit Qualification? I am a member of another accountancy body; can I undertake statutory audit work in the UK? Is there a charge for the Audit Qualification?
Definition, Characteristics, Types And More The auditor may issue a qualified opinion on the opening balance of the previous year’s financial statements that they did not audit
In terms of seriousness, the qualified audit opinion is more serious than unqualified, yet it is better than adverse and disclaimers
A qualified audit report is an audit report that expresses a qualified opinion (to some extent) on the true and fair view as reported in the financial statements
An unqualified audit report is an audit report that gives a clean chit to the financial statements representing a true and fair view of the financial position of the entity
,2