The results in Table 4 show that means of audit
fees for firms with unqualified opinion are
significantly lower than those with unqualified opinion
with explanation and those with qualified opinion.
Unqualified opinion with explanation represents
events that clients have minor implications of
uncertainties and/or going concern issues and
auditors have to obtain more audit evidence until
they satisfy. Qualified opinion signifies situations
when there is disagreement between auditor and
client’s management on accounting policy
application, disclosure, and scope limitation by either
circumstances or management. The aforementioned