qualified opinion

Qualified opinion

An auditor's opinion expressing certain limitations of an audit.

Qualified Opinion

An auditor's statement that he/she is unable to render a full opinion about a company's finances, or a portion thereof, because the company's accounting does not meet the Generally Accepted Accounting Principles or because the information was for some reason incomplete. In other words, a qualified opinion states that the company's accounting is so sloppy that the auditor cannot render an opinion. This is placed on the front page of an audit. See also: Except for opinion.

qualified opinion

The opinion of a Certified Public Accountant that a firm's financial statements deviate in some respect from a clean opinion according to generally accepted accounting principles. Compare clean opinion.
References in periodicals archive ?
Our client's will benefit immensely from Alberto's experience," said Osvaldo Bianchi, managing partner for Latamkey adding, "When it comes to digital marketing and reputation management in Latin America, you couldn't really ask for a more qualified opinion or a more solid counselor.
If there's a qualified opinion and it's an area where you were relying on the controls, you can't rely on that anymore," she said.
Transaero surprised with consolidated reporting for 2011-2012, however the auditor issued a qualified opinion report.
Unqualified (clean) Opinion, Qualified Opinion, Adverse Opinion, and Disclaimer of Opinion.
During the winter, the team received clean opinions on missile motors a qualified opinion on spare engines, and a disclaimer on our Space Based Infrared System (SBIRS).
Every time we had European ties Walter Smith would send Bomber to watch the opposition and he would always bring back a very thorough and qualified opinion on the opposition.
The report stated that although Baghdad is making progress with regard to the installation of oil metering systems, the audit report contains a qualified opinion as the auditors, Ernst Young, were not able to reliably determine the volume of all quantities extracted and pumped to export terminals in the absence of a comprehensive metering system.
At the time, it seems they accepted the MD's assurances that the operation was legal, without asking for any independent or legally qualified opinion.
The Army received a qualified opinion its General Funds Enterprise Business System, establishing the foundation for future success as the system becomes fully deployed.
2010 contained a qualified opinion on the financial statements arising
If you have a qualified opinion, that means there is an area that needs to be fixed.

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