AUDITING SUMMARY: ISA 700 “FORMING AN OPINION AND REPORTING ON FINANCIAL STATEMENTS” AND ISA 705–706

Authors

  • Zaripova Sayohat Author
  • Doniyarov Ulugmurat SamISI Accounting Account and Audit Department Author

Keywords:

Audit opinion, ISA 700, ISA 705, ISA 706, unmodified opinion, qualified opinion, adverse opinion, disclaimer of opinion, Key Audit Matters (KAM), Emphasis of Matter, Other Matter, financial statement audit, International Standards on Auditing, independent auditor's report.

Abstract

The article comprehensively examines the process of forming an audit opinion and reporting in accordance with the requirements of International Standards on Auditing ISA 700 (Revised), ISA 705 (Revised), and ISA 706 (Revised). It analyzes types of audit opinions (unmodified, qualified, adverse, disclaimer of opinion), mandatory sections of the auditor's report, Key Audit Matters, Emphasis of Matter and Other Matter paragraphs, and special requirements applied in cases of modification and emphasis. The relevance of these standards as of 2025 and their practical application are illustrated with examples.

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Published

2026-01-19

Issue

Vol. 2 No. 1 (2026): GER

Section

Articles

How to Cite

AUDITING SUMMARY: ISA 700 “FORMING AN OPINION AND REPORTING ON FINANCIAL STATEMENTS” AND ISA 705–706. (2026). Global Economic Review: Journal of Economics, Policy, and Business Development, 2(1), 62-67. https://ecomindspress.com/index.php/ger/article/view/267