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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COMPANY LIMITED BY SHARES is where the members' personal liabilities are limited to the par value of their shares. a company limited by guarantee.

SECONDARY MARKET is buyers and sellers willing to trade securities after their initial issuance.

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