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Opinion Shopping

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Opinion shopping
Attempts by a corporation to attain reporting objectives by following questionable accounting principles, with the help of an auditor willing to sanction the practices. Prohibited by the SEC.

Opinion Shopping
The act or practice of a company looking for an auditor who is likely to give an undeservedly good report on that company's financial health. The company may opinion shop for an auditor with unscrupulous ethics or perhaps who is simply not very good. Opinion shopping is illegal and as a result some analysts raise questions when a company suddenly changes its auditor.

opinion shopping
The search for an accounting firm that will provide the desired opinion for a financial statement. Firms sometimes opinion shop when their current auditors consider their accounting practices questionable or unacceptable. Investors should spend extra time investigating firms that have recently changed auditors.


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When first addressed by the Securities and Exchange Commission (SEC) as a means to curtail opinion shopping, Form 8-K filings were required only when there was a disagreement between a company and its auditors.
Matt Howell, Deloitte's technical partner, says his firm would not get involved in opinion shopping, and it is already implementing IAS 29 where applicable.
Further, it may be easier for lenders to go opinion shopping for another appraiser if the desired value change is small, as conservative assumptions are more easily justifiable than a large value change.
 
 
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Opinion of the public
Opinion of the Supreme Court of Alabama, August 30, 1962
Opinion of the Supreme Court of Alabama, August 30, 1962
Opinion of the Supreme Court of Alabama, August 30, 1962
Opinion of the Supreme Court of Alabama, August 30, 1962
Opinion of the Supreme Court of Alabama, August 30, 1962
Opinion of the Supreme Court of Arizona, April 22, 1965
Opinion of the Supreme Court, January 22, 1973
Opinion of the Supreme Court, March 9, 1964
Opinion of the Supreme Court, May 17, 1954
Opinion of the Supreme Court, May 31, 1955
Opinion of the U.S. Supreme Court, June 13, 1966
Opinion of the U.S. Supreme Court, June 26, 2003
opinion of title
Opinion of U.S. District Court, N.D. Texas, June 17, 1970
Opinion of U.S. District Court, N.D. Texas, June 17, 1970
Opinion of U.S. District Court, N.D. Texas, June 17, 1970
Opinion of U.S. District Court, N.D. Texas, June 17, 1970
Opinion of U.S. District Court, N.D. Texas, June 17, 1970
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