57.Misstated/misstatement
A misstatement is a difference—arising from an error or fraud—between the amount,
classification, presentation or disclosure of an item in the financial statements, and the
amount, classification, presentation or disclosure that is required for that item to be in
accordance with the applicable financial reporting standards.
22 Modified/modifications
An audit opinion is modified when the auditor concludes that the financial statements
are materially misstated, or the auditor has been unable to obtain sufficient appropriate
audit evidence to reach a conclusion. A modified opinion could be:
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Auditing Broad Questions