clean opinion

Clean opinion

An auditor's opinion reflecting an unqualified acceptance of a company's financial statements.

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.

clean opinion

The opinion of a firm's auditors that its financial statements are fairly presented in accordance with generally accepted accounting principles. A clean opinion does not necessarily mean that the firm is financially strong or that its future is favorable, since even financially weak firms generally receive clean opinions. Also called standard opinion, unqualified opinion. Compare adverse opinion, disclaimer of opinion, qualified opinion. See also subject to opinion.
References in periodicals archive ?
We know it will take several years to achieve a clean opinion, but I'm sure we all look forward to seeing the results of the audits and tracking the Department's success in terms of trends in the number of and resolution of audit findings and recommendations.
How could the parent's auditor express a clean opinion in reliance on these unaudited financial statements?
Bill Perfect received a Service Auditors' Report with a clean opinion and no exceptions were noted during testing, demonstrating that Bill Perfect's policies, procedures, and operations for the areas reviewed met or exceeded the stringent SSAE 18 criteria.
The fact that FIFA's external auditor issued a clean opinion on the organization's financial statements continues to raise questions.
Asure received a Service Auditors' Report with a clean opinion and no exceptions, demonstrating that its policies, procedures, and operations for the areas reviewed met or exceeded the stringent SSAE 16 criteria.
Obtaining a clean opinion also improves stewardship, reduces cost of business operations, and complies with congressional direction.
Biron, president of the accounting firm, said, "This is what we would call a clean opinion .
KEEP REVOLUTION CLEAN Opinion was divided about Gaddafi's whereabouts.
But, as with Enron, Tyco, and WorldCom, at every major S&L control fraud was protected by clean audits from top accountants: You hire the top firm to get the clean opinion.
For example, we received a clean opinion from independent auditors on our financial statements and met or exceeded targets for 10 of 14 key performance measures, while setting or matching all-time records for 3 measures.
We currently have a clean opinion of about 16 percent of our assets and 42 percent of our liabilities.