EXCEPT FOR Definition

Bookmark and Share

EXCEPT FOR is a qualified opinion. An auditor can qualify the audit opinion for both departures from U.S. GAAP in the financial statements and restrictions on the scope of the audit. The opinion paragraph of the qualified report is worded "In our opinion, except for..."

Learn new Accounting Terms

CONTINGENCY BUDGET is the amount of money required to implement a contingency plan. If an authorized entity approves a contingency plan, it would normally set aside a contingency budget, which would only be called upon if the contingency plan had to be implemented.

CONVERTIBLE CURRENCY is any national currency that can be easily exchanged for that of another country.

Suggest a Term

Enter Search Term

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