QUALIFIED OPINION Definition

Bookmark and Share

QUALIFIED OPINION is the auditor's opinion accompanying a financial statement that calls attention to limitations in the audit or exceptions the auditor has taken with the audit of the statements.

Learn new Accounting Terms

PROCESS is to subject to a process or treatment, with the end result being to ready for some purpose, improving, or remedying a condition, e.g. a manufacturing process or a sales order booking process.

OVERALL REVIEW, in accounting, is the stage of the audit where the assessment of conclusions reached and evaluation of the overall financial statement presentation. The overall review includes reading the financial statements and notes and considering adequacy of evidence gathered in response to unusual or unexpected balances. Results of an overall review may indicate the need for additional evidence.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.