When an auditor submits her report, the organization hopes to receive a qualified report as this is the highest level and indicates that the auditors are satisfied with the organization's financial health and practices and its legal compliance.

Question

Quizplus · Accepted Answer

A qualified report indicates that the auditor has found issues or exceptions in the financial statements, whereas an unqualified report is the highest level, showing satisfaction with the financial health and practices.

When an Auditor Submits Her Report, the Organization Hopes to Receive