Question: Basically, an auditor has the following opinion options when reporting on a client's financial statements: Unqualified - The financial statements are free from material misstatement.

Basically, an auditor has the following opinion options when reporting on a client's financial statements:

Unqualified - The financial statements are free from material misstatement.

Qualified - Except for one or two material, but not overwhelming instances of noncompliance, the financial statements are free from material misstatement.

Adverse - The financial statements are materially misstated and investors and creditors should not rely on the financial statements.

Disclaimer - The auditor was not able to obtain sufficient, compentent evidence on which to base an opinion, and therefore no opinion is issued.

Which of these options do you think is the most common? Why?

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