ACC 492 Week 5 Individual Issuing Audit Reports Simulation

May 1st, 2015
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ACC 492 Week 5 Individual Issuing Audit Reports Simulation

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Audit Simulation ACC492 Week 5 IndividualThe different types of audit reports are; unqualified, qualified, adverse, and disclaimer report. An unqualified opinion is issued when an auditors findings are that the companys financial statements follow generally accepted accounting principles (GAAP) and are presentedjustly. A qualified opinion is issued when the companys financial statements are not in line with the GAAP; however, the auditor believes the financial statements are presented in a fair manner. An adverse report happens when the auditor is of the opinion the financial sta

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