accountant's opinion

(redirected from Clean Opinions)

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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

accountant's opinion

See opinion.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Several defense agencies have had clean opinions for many years.
However, those audits also produced "clean opinions," according to Harold Emling.
As McKenna poignantly explains, "When each of the notorious "financial crisis" institutions collapsed, were bailed out/nationalized by their governments or were acquired/rescued by "healthier" institutions, they were all carrying in their wallets nonqualified, clean opinions on their financial statements from their auditors." Some of these unqualified opinions, however, had modifications (explanatory paragraphs) attached to them to indicate accounting method changes.
"Again this year, our independent auditors have given our permanent funds clean opinions, reflecting the prudent management NCUA exercises," NCUA Board Chairman Debbie Matz said.
In order for the Navy to continue to earn clean opinions year after year, the Navy must rely on its systems IT controls.
As I argued in a CPA Journal article, "Auditors' Responsibility for Detecting Fraud: Putting Ethics and Morality First" (June 2012), during the last five years, it is undeniable that public accounting firms rendered clean opinions on entities later determined to be Ponzi schemes or institutions whose activities forced them into insolvency, bankruptcy, bailout, or forced merger only months later.
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).
When an auditor finds a significant deficiency or material weakness, it can result in a stressful conversation with management--especially when long-standing clients have had clean opinions on previous financial statement audits (see "What We're Up Against," below).
Nonetheless, it appears that nearly 90 percent of accelerated filers will have clean opinions on their internal controls in connection with their 2004 audits.
The coefficients associated with the main effects of each of the four audit committee characteristics ([b.sub.1], [b.sub.3], [b.sub.5], [b.sub.7]) measure the relation between the characteristic and auditor dismissals following clean opinions. However, we are primarily interested in the relation between audit committee characteristics and auditor dismissals following GC opinions.