qualified opinion(redirected from Qualified Audit Report)
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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.
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.