OPINION PARAGRAPH Definition

Bookmark and Share

OPINION PARAGRAPH is the paragraph in the audit report that expresses the auditor's
conclusions. The wording of the standard, unqualified opinion paragraph is: "In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of XYZ Company at December 31, year A, and the results of its operations and its cash flows for the year then ended in conformity with U.S. generally accepted accounting principles."

Learn new Accounting Terms

YEAR-END is the end of an accounting period; usually a calendar year, but may be a fiscal year. Books are closed at year-end.

INSERTION ORDER, in marketing, is an agreement that specifies aspects related to an advertising campaign.

Suggest a Term

Enter Search Term

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