AUDIT OPINION LETTER Definition

Bookmark and Share

AUDIT OPINION LETTER is a signed representation by an auditor as to the reliability and fairness of a set of financial statements. It is usually presented at the beginning of an audit report.

Learn new Accounting Terms

DISCOUNT FOR THE LACK OF CONTROL is an amount or percentage deducted from the pro rata share of value of one hundred percent (100%) of an equity interest in a business to reflect the absence of some or all of the powers of control.

FOB POINT OF ORIGIN is where the supplier is responsible for all shipping costs to the point of having the goods loaded unto the vessel for shipment to its destination. The purchaser, from that point forward, is responsible for all further shipping costs to the point of destination, e.g., insurance, transportation, etc.

Suggest a Term

Enter Search Term

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