Final answer:
An unmodified opinion is the typical effect on the audit report when material matters are properly presented, indicating that the financial statements present fairly the company's financial position. Matters like going concern or consistency, if properly disclosed or applied, do not require any modification to the audit opinion.
Step-by-step explanation:
When an auditor finds that a matter such as the company's ability to continue as a going concern, the consistency in the application of accounting principles, or matters related to the auditor's discretion, is properly presented in the financial statements, the typical effect on the audit report would be an unmodified opinion. An unmodified, or 'clean,' opinion indicates that the financial statements present fairly, in all material respects, the financial position of the company. If issues are presented accurately and are in accordance with the relevant financial reporting framework, no modification to the opinion is necessary.
Matters such as going concern uncertainties that are adequately disclosed in the notes to the financial statements, or changes in accounting policies that are properly accounted for and adequately presented would not, by themselves, lead to a modification of the auditor's opinion, as long as they do not misrepresent the underlying transactions. However, if such matters were not properly presented, this could lead to a qualified opinion, adverse opinion, or disclaimer of opinion, depending on the severity and implications of the issue in relation to the financial statements as a whole.