Introduction:
An auditor who is reporting on the financial information of an entity can use the work of another auditor and rely on other auditor’s working after checking other auditor’s report. It is generally found in case of branch audit, division audit, subsidiary audit, etc.
An unqualified report is an independent auditor’s in which auditor gives reasonable assurance that entity’s financial statements represent true and fair view and accounts are in compliance with GAAP.
A qualified opinion is an independent auditor’s opinion that financial statements represent true and fair view except on a certain area for which the auditor does not the responsibility.
Reliance of Auditor on Other Auditor’s work.
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