An unmodified audit opinion rendered on a government unit's basic financial statements means those statements:
A) Have been certified as free from error.
B) Did not require modifications by the auditor.
C) Present the entity's financial position fairly in conformity with GAAP.
D) All of these choices are correct.

Question

Quizplus · Accepted Answer

An unmodified audit opinion indicates that the auditor believes the financial statements present the entity's financial position fairly in conformity with generally accepted accounting principles (GAAP), without asserting the statements are free from error or didn't require any modifications during the audit process.

An Unmodified Audit Opinion Rendered on a Government Unit's Basic