There are four types of opinions that may be expressed in the external
auditor's report which includes, unqualified, qualified, adverse, and disclaimer of opinion. Typically, unqualified opinions are issued from external auditors. Some believe that external auditing firms are reluctant to issue adverse opinions for the fear of losing the contracts. Some believe that several firms issue unqualified opinions regardless if the financial health of the company is poor just to keep the contract; thus, defrauding the shareholders. Could this be true? If so, Is this because of greed?
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