An unmodified audit opinion rendered on a governmental 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 the above.

Question

Quizplus · Accepted Answer

An unmodified audit opinion means that the auditor did not find any material misstatements in the financial statements and that they are presented fairly in conformity with Generally Accepted Accounting Principles (GAAP). It does not mean that the statements are certified as error-free, as there may still be immaterial errors or omissions present.

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