REASONS FOR MODIFYING AUDIT OPINIONS ON FINANCIAL REPORTS OF LISTED COMPANIES IN BOSNIA AND HERZEGOVINA

This paper examines audit opinions on financial reports of listed companies in Bosnia and Herzegovina. The aim of the research is to determine the frequency of modified audit opinion as well as to identify the reasons that lead auditors to modify their opinion. The research was carried out on a sample of 886 auditor’s reports. The period from 2017 to 2021 is covered by the research. The content analysis method was used in the research. This research shows that the frequency of modified audit opinions was on average 17.6%. The existence of materially significant misstatements in financial reports is a much more frequent reason for modifying the audit opinion than the existence of limitations in the scope of the audit. The most common misstatements in financial reports that were the reason for the modification of the auditor's opinion refer to the impairment of assets.