subject to opinion
Subject to opinion
An auditor's opinion reflecting acceptance of a company's financial statements subject to pervasive uncertainty that cannot be adequately measured, such as information relating to the value of inventories, reserves for losses, or other matters open to judgment.
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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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
subject to opinion
An audit opinion by a certified public accountant that a firm's financial statements are fairly presented subject to the outcome of an uncertain future event. A major lawsuit, the outcome of which could significantly affect the firm, may be unresolved at the time of the audit; such a situation is an example of a factor influencing the 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.