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PCAOB Auditing Standard 3101: Auditor's Unqualified Opinion

Being offered twice a quarter on Thursdays at 1:00 p.m. to 3:00 p.m. Central Time.

PCAOB Auditing Standard 3101: The Auditor's Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion establishes requirements regarding the auditor's opinion after providing a financial audit.

The auditor's report contains either an expression of opinion on the financial statements or an assertion that an opinion cannot be expressed.

This standard establishes requirements regarding the content of the auditor's written report when the auditor expresses an unqualified opinion on the financial statements.


This standard establishes the requirements regarding the reporting of critical audit matters relating to the audit of the financial statements.


This timely, two hour morning CPE training event is designed for the CPA firm staff members who will be working on PCAOB regulated audits. The attendees will learn how to properly address the audit report for an unqualified opinion and the effects of the Auditing Standard on the auditing workpapers.


The retail cost of the online 2 CPE internal auditor training event is $120 per attendee.



Each attendee will receive 2 CPE Hours (YB). A certificate of completion will be provided.

Program Level of Understanding: Basic
Prerequisites: None
Advance Preparation: None
Delivery Format: Group Internet Based
NASBA Field(s) of Study: Auditing
CPE Credits: 2, based on 50 minutes of instruction per hour

CPE Event Highlights

The objectives of this event is to clearly define for the auditor how to present their conclusion that an unqualified opinion is appropriate for a financial statement audit. It provides details on how a written report that expresses an unqualified opinion on the financial statements should be presented. Additionally, the audit standard requires the auditor to now close the risk management loop by properly communicating the critical audit matters relating to the audit of the financial statements.


Learning Objectives

Attendees will:

  • Understand the PCAOB's Audit Standard 3101.

  • Understand how to structure the unqualified opinion.


Key Items on the Agenda

Introductions and Administrative Items

  • Introductions

  • What is the "PCAOB Auditing Standards" context?

  • What are the Five Major Audit Standard Sections

  • What is in Section 3100: Auditor Reporting

Section 1 - Auditing Standard 3101 - Unqualified Opinion

  • Introduction to the Standard

  • Objectives of the Standard

  • Basic Elements of the Unqualified Report

  • Critical Audit Matters

  • Explanatory Language

  • Emphasis of a Matter

  • Information about Certain Audit Participants

Section 2 - Going Forward and Summary

  • PCAOB Inspections Observations on Section 3101

  • PCAOB Guidance on AS 3101