The results of the audit engagement are stated in an opinion letter by the auditor. The auditor may express his/her opinion in the following formats:
- Clean (unqualified) opinion
- Qualified opinion
- Adverse opinion
- Disclaimer of opinion
If adverse opinion or disclaimer of opinion is expressed, the board of directors must call the general assembly to convene within four business days from the date of the opinion and the general assembly must elect a new board of directors. The previous board members may be reelected unless otherwise stated in the articles of association. The new board must have the financial statements prepared in accordance with law, the articles of association and the relevant standards within six months and must submit them to the general assembly together with the independent audit report.
