Question

Auditor Margarita concludes that the financial statements are presented fairly, in all material respects, and in accordance with the applicable financial reporting framework, though she did find an immaterial scope limitation that was not pervasive. What type of opinion has she rendered?

1) unaudited opinion
2) adverse opinion
3) unmodified opinion
4) modified opinion

Answer 1

Auditor Margarita has rendered an unmodified opinion on the financial statements, despite finding an immaterial scope limitation.

Step-by-step explanation:

Auditor Margarita has rendered an unmodified opinion on the financial statements. An unmodified opinion means that the financial statements are presented fairly, in all material respects, and in accordance with the applicable financial reporting framework. The immaterial scope limitation that was found by Auditor Margarita does not affect the overall fairness of the financial statements.