An unqualified audit opinion with an explanatory paragraph often makes reference to the footnotes of the financial statements

Question

Quizplus · Accepted Answer

An unqualified audit opinion with an explanatory paragraph typically indicates that the financial statements are fairly presented, with the exception of certain circumstances that are explained in the explanatory paragraph. This paragraph may refer to information contained in the footnotes of the financial statements, which provide additional details and disclosures relevant to the financial information presented in the statements.

An Unqualified Audit Opinion with an Explanatory Paragraph Often Makes