The IDC said, their auditors did not apply appropriate audit procedures to warrant the expression of audit opinions
. With a small fee, the auditors also signed the audited financial statements without ensuring the signature of the company's management.
Over the years, our industry has made GREAT strides forward in obtaining unmodified (i.e., clean) audit opinions
, reducing material weaknesses, advancing transparency and accountability, and looking for new and better ways of conducting our operations.
In this financial year, the number of issues identified by auditors - leading to "qualified audit opinions
" - has doubled.
The NCUA announced that its four permanent funds received clean audit opinions
for 2014, according to audited financial reports released by agency's Inspector General.
68 would not prevent employers in cost-sharing plans from receiving modified audit opinions
on their financial statements.
There are four types of audit opinions
that can be issued ...
Last year, we reported the results of our investigation of allegations about certain DCAA audits at three locations in California, which substantiated claims that (1) audit documentation did not support the reported opinions; (2) DCAA supervisors dropped findings and changed audit opinions
without adequate audit evidence for their changes; and (3) sufficient work was not performed to support the audit opinions
If the number of going concerns continues to rise at the level one research firm expects, there will be more than 3,500 audit opinions
uncertain of their going concern assumptions in 2008.
A damaging reaction tomodified audit opinionsmay be caused by misinterpretations of explanations - the emphasis of matter in those modified audit opinions
To facilitate managers' understanding of the new requirements they face, we first provide an overview of the three required audit opinions
. Then we analyze the deficiencies reported by a sample of accelerated filers.
Ideally, the identification system will lower the cost of item management, improve item availability, increase asset visibility and traceability, help achieve clean audit opinions
, and improve long-term inventory management and strategic purchasing for the DoD.