They said: "A qualified audit report
does not reflect the financial health of the business, and it does not mean that the financial statements are not transparent.
Our results show that the likelihood of receiving a qualified audit report
decreases with tenure.
The main reason for 41% of the audit opinions included in this study receiving a qualified audit report
was due to the councils' exposure to the impacts from the collapse of the US sub prime mortgage market.
Our findings show that even in a country of low audit litigation risk, where auditors are hardly ever sued for misconduct and negligence, they are not less likely to give a qualified audit report
when providing audit and non-audit services.
SAS 34 required a qualified audit report
if there was uncertainty regarding the recoverability of assets and the classification of liabilities.
After examining the year-end financial statement for the financial year 2008 the auditor of Morphic Technologies AB (STO:MORPB) has today submitted a qualified audit report
59 audit reports have consistently found that only about 40 to 45% of bankrupt companies received a "subject to" qualified audit report
on their financial statements for the year immediately preceding bankruptcy.
WSL) confirms that the Alberta Securities Commission (the "Commission") has denied its application for permission to file April 30th, 1997 audited financial statements with a qualified audit report
and July 31st, 1997 interim statements with a similar notice to reader.
Although the City received a qualified audit report
for the 2010/11 financial year, it has since received favourable credit ratings.
Over the past financial years, DCS has been receiving qualified audit reports
, from AGSA, on issues relating to non-compliance to legislative requirements, on planning and reporting, of performance information.
of North Texas), examining such specific topics as: current issues in European bank regulation in relation to government spending and borrowing, the relative effectiveness of qualified audit reports
as accountability mechanisms in Spain, long-range anomalies in the real return on corporate equity compared with realized returns from the real assets on corporations, stability and the recently expanded commodity futures trading in oil and gold, unintended consequences of electric power regulations requiring retail utilities to buy all the power produced by wind and solar generators linked to the grind, and evidence concerning the value of technical analysis to portfolio performance.
Craswell (1999) suggested that qualified audit reports
are a strong indicator that independence has not been compromised, due to the competitive nature of auditing.