Auditor will modify the standard audit report if conclusive evidence relating to uncertainty of future outcome cannot be made at the time of audit of financial statements. If uncertainty is significant, auditor will issue an unmodified opinion with emphasis of matter paragraph. The emphasis of matter paragraph should refer to the note in financial statement where the uncertainty is described and also state that the opinion is not qualified with respect to the matter. In case there are multiple significant uncertainties and auditor is not able to form an opinion as a whole, a disclaimer opinion will be appropriate. A classic example of issue of unmodified opinion with emphasis of matter paragraph is when the result of a law suit against the client whose financial statement are being audited is uncertain.
