
Introduction:Unmodified or unqualified opinion refers to an audit opinion that the financial statements are free from material misstatement, as a whole and gives a true and fair view.
To examine: Whether the given statement is true or false.

Answer to Problem 1CYBK
The given statement is “True”.
Explanation of Solution
An unqualified opinion is issued by an auditor, when there is no reservations about management’s financial statements or internal controls.
When the auditor has obtained sufficient and appropriate audit evidences, based upon which an auditor has drawn conclusions and finds no reservations or adverse remarks on financial statements or internal controls. The auditor will issue a clean report; that is, an unmodified or unqualified report.
Therefore, the given statement is true.
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Chapter 1 Solutions
Auditing: A Risk Based-Approach (MindTap Course List)
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