Audit reports with an unmodified opinion for nonpublic companies could state that the audit was performed in accordance with AICPA generally accepted auditing standards, while the audit report for public companies refer to PCAOB standards. Both reports are modified if: Multiple choice question.

there are no material departures from GAAP in the client's financial statements.

the auditors are able to obtain sufficient appropriate audit evidence.

there are conditions, although not departures from GAAP, about which the readers of the financial statements should be informed.

financial statements are in conformity with the appropriate financial reporting framework

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