Qualified Audit Opinion Due to Material Misstatements
Department of Public Works and Highways · 2023
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What Happened?
Category: Financial ManagementIssue: Qualified OpinionThe auditor found significant errors in the financial statements. Because these errors were material and not fully corrected, the auditor issued a qualified opinion rather than a clean one.
Why It Matters
Recommended Actions
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Original Audit Finding Excerpt
"Total Identified Misstatements 29,768,846,741.02 Total Uncorrected Misstatements 29,260,714,801.74 Audit Opinion considering the computed Overall Planning Materiality QUALIFIED"