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Unmodified audit opinion in audit report – meaning

The unmodified audit opinion is opinion expressed by an auditor where the auditor concludes that the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework.
An unmodified audit, opinion auditor conclude, after collecting sufficient and appropriate audit evidence that there is no material misstatement in financial statements and the financial statement has been prepared in accordance with an acceptable financial reporting framework.



 However, issuing of unmodified audit opinion does not guarantee that the financial statement is free of misstatement, this is due to the limitation of the audit such as the use of the sample, relying on internal control and due to the fact that audit evidence is persuasive rather than conclusive. The auditor report containing unmodified opinion shall have as a minimum the following content (ISA 700 REVISED).

  • Title 
  • Addressee  
  • Auditor’s opinion 
  • Basis of opinion 
  • Going concern (in accordance with ISA 570) 
  • Key audit matter (in accordance with ISA 701) 
  • Other information 
  • Management responsibilities for financial statements. 
  • Auditor’s responsibilities for the audit of financial statements. 
  • Other reporting responsibilities 
  • Name of the engagement partner. 
  • Signature of the auditor. 
  • Auditor address. 
  • Date of the audit report. 

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