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for the auditor’s assessment of fraud risks.

Limitations imposed by management may have other implications for the audit, e.g.

when the auditor is unable to obtain sufficient appropriate audit evidence on which to base the opinion, and the possible effects on the annual accounts or underlying transactions of undetected misstatements are.

when the auditor has obtained sufficient appropriate audit evidence and concludes that misstatements or instances of non-compliance, individually or in the aggregate, are material, but not pervasive, to the annual accounts or the underlying transactions or.

Qualified opinion The auditor should express a qualified opinion: Inability to obtain sufficient appropriate audit evidence on which to base the opinion Three types of modified opinions can be summarised as follows: Nature of matter giving rise to the modificationĪnnual accounts are materially misstated, or underlying transactions do not comply, in all material respects, with the legal and regulatory framework Of the effects or possible effects of the matter on the annual accounts or the underlying transactions.