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 ?
''The external auditor of the annual financial statement, issued a qualified opinion, stating that the bank did not recognize sufficient allowances for expected credit losses on loans to and receivables from customers.
Of the 74 institutions audited, the Audit Office gave a qualified opinion for six of them (two qualified opinions and four qualified opinions with due attention) - with three institutions receiving a qualified opinion on compliance with the laws and regulations, one on financial institution reports, and two institutions received it in the cases of compliance and financial statements.
The Commission on Audit (COA) has issued a qualified opinion to the city government that it has not maintained Generally Accepted Accounting Principles (GAAP) as there were receipts that did not correspond to some of the city government's accounts in relation to its properties.
The SEC said in a statement this is the latest unqualified opinion issued by COA to the commission since 2013, after a series of modified or qualified opinion from 2014 to 2017.
"We have over 30 counties that have qualified opinion yet when the supporting documents are brought, like the case of Kiambu county, billions of taxpayers' money has been lost.
Auditor Deloitte quit last week after having given a qualified opinion on the miner's twice-delayed results.
Chartered Accountants) have issued a qualified opinion on the FY18 accounts, as SNGP has recognized disputed revenue of PKR 17bn.
For instance, although Tharaka-Nithi had audit queries, it received a qualified opinion from Auditor-General Edward Ouko.This means Mr Ouko received all the information required for the audit, but it revealed gaps that often arise from failure to stick to procedures and budget limits.
The report had a qualified opinion following an internal investigation into the valuation and recoverability of the company's fund investments and lending.
Based on a summary published in the official website of COA dating back to 2007, Makati had received its qualified opinion in 2007, and from 2010 up to 2016.
If there is one man on the planet who is fit to give a qualified opinion on playing in central midfield for Manchester United, it's Scholes.
However, the 2016 report gives a qualified opinion that "A significant part of the 2016 expenditure audited was not affected by a material level of error".

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