Final answer:
A qualified opinion audit report is issued when the auditor believes that the financial statements are fairly stated, and all auditing requirements have been met.
Step-by-step explanation:
A qualified opinion audit report is issued when all auditing conditions have been met, no significant misstatements have been discovered, and it is the auditor's opinion that the financial statements are fairly stated in accordance with GAAP.
Unlike an analytical report, which provides information based on facts that can be proven or inferred, an audit report expresses the auditor's professional opinion on the fairness of the financial statements.
In summary, a qualified opinion audit report is issued when the auditor believes that the financial statements are fairly stated, and all auditing requirements have been met.