The most favorable type of audit opinion for an entity to receive is
Answers
Answered by
0
An unqualified opinion indicates that the information presented in a company's financial report is clean and can be presumed to be free from misstatements as opposed to to a Qualified opinion which is similar to an unqualified opinion because the auditing body cannot express an unqualified opinion because of a reason like - the company did not present the financial records in accordance with GAAP(Generally Accepted Accounting Procedures).
Hence , an unqualified opinion would be the most favourable type of Audit Opinion for an entity to receive.
To make it even simpler :
Unqualified Opinion - A+
Qualified Opinion - A
Similar questions