Briefly explain the meaning of the following terms in relation to audit reports:―Except for‖ opinion and disclaimer of opinion

(i) “Except for Opinion”
The opinion is qualified by stating that the financial statements give a true and fair view except for the effects of any adjustments that might have been found necessary had the limitation not affected the evidence available to the auditors.
(ii) Disclaimer of Opinion
Occurs when the auditors conclude that they have not been able to obtain sufficient evidence to support, and accordingly are unable to express an opinion on the financial statements.

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