The wording of the adverse report is similar to the qualified report.
2.
And, as Perstima has to hold its delayed annual meeting by March 31, the directors have decided to present the qualified report while the " investigative audit " is being undertaken.
3.
The wording of the qualified report is very similar to the Unqualified opinion, but an "'explanatory paragraph "'is added to explain the reasons for the qualification after the scope paragraph but before the opinion paragraph.
4.
The only qualified reports available with the Bangalore University are the Interim Report of BU Task Force and Report of the Expert Committee headed by Dr . V . Sudhakar, which is also in line with the Interim Report of BU Task Force.
5.
However, the most significant change in the adverse report from the qualified report is in the opinion paragraph, where the auditor clearly states that the financial statements are not in accordance with GAAP, which means that they, as a whole, are unreliable, inaccurate, and do not present a fair view of the auditee's position and operations.
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