accountant's opinion

(redirected from Auditor's Reports)

Accountant's opinion

A signed statement from an independent public accountant after examination of a firm's records and accounts. The opinion may be unqualified or qualified. See: Qualified opinion.

Accountant's Opinion

An auditor's statement that he/she has reviewed the financial statements of a company and believes that they are accurate, complete, and in accordance with Generally Accepted Accounting Principles. Most of the time, a publicly-traded company's annual report contains an accountant's opinion; a report without one can be a matter of concern to investors. Instead of an accountant's opinion, the auditor may issue a qualified opinion, stating that the auditor 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. An accountant's opinion is also called an auditor's report, a clean opinion, or simply an opinion.

accountant's opinion

See opinion.
References in periodicals archive ?
Bank affiliation accounted for some of the difference noted in user reactions to the auditor's reports. Loan officers from small banks perceived that the auditor assumes more responsibility for the accuracy of the financial statements than did those from larger banks.
(Practitioners perform IMSA engagements under the AICPA attestation standards.) The SOP amends Chapter 11, "Auditor's Reports," of the Industry Audit Guide Audits of Stock Life Insurance Companies.
Management must now submit the reporting package within 30 days after receiving the auditor's reports or within 9 months after the end of the period audited, whichever is earlier.
A Pennsylvania federal court ruled that business owners who engaged in fraudulent conduct could not sue their auditors, but third parties who relied on the auditor's reports could.
However, neither the single audit requirements nor the auditor's reports clearly describe the extent of internal control testing.
The addendum also describes the service organization auditor's reports that may be obtained by auditors.
* Management and auditor's reports on internal control structure and compliance.
Few years after the UK implementation, auditors in New Zealand have been required to amend their auditor's reports according to the new reporting requirement for KAMs for audits of financial statements ending on or after 15 December 2016.
The FRC has supported EARs mainly as "a response to the post-2008 financial crisis and the need to enhance confidence in financial reporting and auditing" (Extended Auditor's Reports: A Further Review of Experience, January 2016, http://bit.ly/2AUdAeP).