Is an emphasis-of-matter paragraph included in the audit opinion for an issuer?
No, an emphasis-of-matter paragraph is used in the audit opinion for a nonissuer (private company). For an issuer (public company), the audit team would include an “explanatory paragraph”:
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What are the required paragraphs in an unqualified opinion?
Unqualified opinions are issued for issuers (public companies). If the audit team has determined that, after performing all necessary audit procedures, that there are no material departures from the conceptual framework, the audit team may issue an unqualified opinion. Reporting an unqualified opinion would consist of an introductory paragraph, management responsibility paragraph, auditor responsibility paragraph, […]
What information is included in the opinion paragraph for an unqualified opinion?
Assuming that an unqualified (clean) opinion is issued by the audit firm, the opinion paragraph should include the following information:
What information is required in an unqualified opinion?
Remember, an unqualified opinion is for issuers (an unmodified opinion is used for nonissuers). When the audit team of an issuer determines that the financial statements have been presented in accordance with the applicable financial framework, and that there are no material misstatements due to error or fraud, the audit team will issue an unqualified […]