Auditor's Opinion

A certification that accompanies financial statements and is provided by the independent accountants who audit a company's books and records and help produce the financial statements. The auditor's opinion will set out the scope of the audit, the accountant's opinion of the procedures and records used to produce the statements, and the accountant's opinion of whether or not the financial statements present an accurate picture of the company's financial condition.

There are generally three types of auditor's opinions. A "clean" or unqualified opinion states that the financial statements present a fair and accurate picture of the company and comply with generally accepted accounting principles. A qualified opinion contains exceptions, which may include the scope of the audit.

An adverse opinion contains a major exception or warning. The most well-known adverse opinion is the "going-concern" exception, in which the accountant expresses doubts about the company's ability to remain in business.


Investment dictionary. . 2012.

Look at other dictionaries:

  • auditor’s opinion — auditoriaus išvada statusas Aprobuotas sritis auditas apibrėžtis Dokumentas, kuriame atestuotas auditorius, kitos valstybės narės auditorius arba valstybės ne narės auditorius, be kitų privalomų dalykų, pareiškia savo nuomonę apie audituotus… …   Lithuanian dictionary (lietuvių žodynas)

  • auditor`s opinion — assessment of an accountant, auditor s evaluation …   English contemporary dictionary

  • Auditor's report — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …   Wikipedia

  • auditor's report — A section of an annual report that includes the auditor s opinion about the veracity of the financial statements. Bloomberg Financial Dictionary All companies above a certain size are required to have their financial statements audited ( i.e.… …   Financial and business terms

  • Auditor's Report — Recorded in the annual report, the auditor s report tests to see that a corporation s financial statements comply with GAAP. This is sometimes referred to as the clean opinion. Most auditor s reports consist of three paragraphs. The first states… …   Investment dictionary

  • Auditor's report — A section of an annual report containing the auditor s opinion about the veracity of the financial statements. The New York Times Financial Glossary * * * auditor s report auditor s report ➔ report1 * * * auditor s report UK US noun [C] (also… …   Financial and business terms

  • Auditor independence — refers to the independence of the auditor from parties, that have an interest in the financial statements of an entity. It is essentially an attitude of mind characterized by integrity and an objective approach to the audit process. The concept… …   Wikipedia

  • Auditor General of Newfoundland and Labrador — The Auditor General of Newfoundland and Labrador is appointed by the Lieutenant Governor in Council and confirmed by a resolution of the House of AssemblyThe Auditor General Act creates the Office of the Auditor General to assist in carrying out… …   Wikipedia

  • Opinion Shopping — A company s action of searching for an auditor who will give a positive opinion of the company s accounting practices (even though they might not deserve it). As you can imagine, this is highly illegal …   Investment dictionary

  • opinion shopping — Gen Mgt the practice of searching for an auditor whose views are in line with those of a company being audited. Opinion shopping can take place when a company is about to be audited and has recently undertaken questionable dealings. Auditors are… …   The ultimate business dictionary


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.