Subject to‘ Qualification
This indicates that there are some material matters about which the auditor has reasons to disagree.
ii) ‗Except for‘ qualification
This indicates that there are some material matters which have quite significant effect and thus the financial statements give untrue information e.g. where no provision is made for doubtful debts.
iii) ‗Adverse‘ Qualification
Here, there is disagreement over a particular matter which is not only material but also fundamental. E.g. non-compliance of accounting principles.
iv) ‗Disclaimer‘ Qualification
Here, the auditor refuses to express any opinion. For instance where there is uncertainty regarding some item of financial statements or it is not possible to substantiate Cash transactions.