Part of the auditor's unmodified (also known as clean) opinion states that the "financial statements present fairly the financial position, results of operations, and cash flows of the company". Looking back at the accounting knowledge you have learned in this course, do you think the opinion should state "financial statements present precisely the financial position, results of operations, and cash flows of the company"? Why or why not?

Answer rating: 100% (QA)

The term present fairly in the auditors unmodified opinion is intentional and appropriate It reflects the auditors judgment that based on the evidence ... View the full answer