Under what circumstances, the auditor should express modified opinion? Explain.

The Auditor should express modified opinion when the Auditor concludes that: based on the Audit Evidence obtained, there is non-compliance with the applicable laws in terms of timelines or process; or based on the Audit Evidence obtained, the records as a whole are not free from misstatement; or are not maintained in accordance with applicable laws; or he is unable to obtain sufficient and appropriate Audit Evidence to conclude that there is due compliance with the applicable laws in terms of timelines and process; or he is unable to obtain sufficient and appropriate Audit Evidence to conclude that the records as a whole are free from misstatement; or are maintained in accordance with applicable laws. If the information prepared in accordance with the requirements of a fair presentation framework is not sufficient and relevant enough so as to allow achieving of a fair presentation, the auditor should discuss the matter with management and, depending on the requirements of the applicable reporting framework and how the matter is resolved, should determine whether it is necessary to modify the opinion in the auditor's report. In case the auditor expresses a modified opinion or disclaims an opinion, the text of the opinion shall be either in italics or bold letters. The modification on Opinion can be in any one of the following three categories depending upon the nature and severity/ extremity of the matter under consideration: The qualified Opinion The adverse Opinion The disclaimer of Opinion