Preparing an adverse opinion audit report
This helpsheet was last updated in January 2019 and is based on the relevant laws and regulations that apply as at 1 January 2019.
This guide is designed to explain the main changes that are needed to the audit report when an auditor considers it necessary to issue an adverse opinion on the financial statements due to a material and pervasive misstatement in the financial statements. This assumes that aside from the matter giving rise to the adverse opinion, the auditor has obtained all other necessary evidence to support the opinion.
Note to users
The following ICAEW guides and articles may also be helpful:
Terms and conditions
© ICAEW 2021 All rights reserved.
ICAEW cannot accept responsibility for any person acting or refraining to act as a result of any material contained in this helpsheet. This helpsheet is designed to alert you to an important issue of general application. It is not intended to be a definitive statement covering all aspects but is a brief comment on a specific point.
You have permission to use and reproduce this helpsheet on the following conditions:
The helpsheet is to be reproduced for personal, non-commercial use only and is not for re-distribution.