In auditing, what type of audit report opinion is issued when financial statements are presented fairly in all material respects according to GAAP/IFRS?

Explanation

• An Unqualified Opinion (clean report) indicates that the auditor concludes the financial statements are presented fairly, in all material respects.
• A Qualified Opinion is issued when statements are mostly accurate except for a specific material departure or scope limitation.
• An Adverse Opinion states that financial statements are materially misstated and unreliable as a whole.