ADVERSE OPINION Definition

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ADVERSE OPINION is expressed if the basis of accounting is unacceptable and distorts the financial reporting of the corporation. If auditors discover circumstances during the course of the audit that make them question whether they can issue an unqualified opinion, they should always discuss those circumstances with the client before issuing the opinion, in order to determine whether it is possible to rectify the problem.

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VALUE CREATION is performing activities that increase the value of goods or services to consumers.

SHARE PREMIUM is the difference between the higher price paid for a share of stock and the stocks par value when issued.

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