Question

Independent auditors must provide dual opinions. What are these two opinions and what is the difference in them?

Answer 1

Dual opinion is the opinion on the effectiveness and effective working of internal controls adopted by the firm to avoid accounting manipulations . Firm adopt internal controls to present financial statements at very best fair and transparent manner. So to avoid any deceit and manipulation activities to hide any or miss any issue , internal controls are adopted . Auditors also check the effectiveness of these controls and provide their opinion at the time of auditing the financial statements