Explain the objective of the auditor to express an appropriately modified opinion as per SA 705 – Modifications to the Opinion in the Independent…

Objective of the Auditor - To Express Clearly an Appropriately Modified Opinion: As per Standard on Auditing (SA) 705 “Modifications To The Opinion In The Independent Auditor's Report”, the objective of the auditor is to express clearly an appropriately modified opinion on the financial statements that is necessary when: (i) The auditor concludes, based on the audit evidence obtained, that the financial statements as a whole are not free from material misstatement; or (ii) The auditor is unable to obtain sufficient appropriate audit evidence to conclude that the financial statements as a whole are free from material misstatement. Qualified Opinion The auditor shall express a qualified opinion when: (i) The auditor, having obtained sufficient appropriate audit evidence, concludes that misstatements, individually or in the aggregate, are material, but not pervasive, to the financial statements; or (ii) The auditor is unable to obtain sufficient appropriate audit evidence on which to base the opinion, but the auditor concludes that the possible effects on the financial statements of undetected misstatements, if any, could be material but not pervasive.