QUICK & EASY GUIDE
DIFFERENT OUTCOMES TO AN AUDIT:
Each entity submits financial statement every year, which the AG audits.
• Clean Audit
Everything done the way it should be.
• Unqualified Audit,
with findings Not bad, but could compromise accountability if not already doing so.
• Qualified Audit
Did not manage and account for finances to achieve best results.
• Adverse Audit
Lots of problems everywhere and nothing done according to correct rules and procedures.
Things were so bad they couldn’t even produce reliable evidence to support financial statements