statement signed by an independent public accountant describing the scope of the examination of an organization's books and records. Because financial reporting involves considerable discretion, the accountant's opinion is an important assurance to a lender or investor. Depending on the scope of an audit and the auditor's confidence in the veracity of the information, the opinion can be unqualified or, to some degree, qualified. Qualified opinions, though not necessarily negative, warrant investigation. Also called auditor's certificate.

statement describing results of an examination of a firm's books and records, following generally accepted auditing and accounting standards. The opinion may be qualified or unqualified, depending on the scope of the examination and the accountant's confidence in the information reviewed. Aqualified opinion, although not necessarily negative, indicates information that the accountant was not able to directly confirm, normally because of limitations in the scope of the audit.

statement signed by an independent Certified Public Accountant describing the scope of the examination of an organization's books and records. Because financial reporting involves considerable discretion, the accountant's opinion is an important assurance to a lender or investor. Major types of opinions are unqualified or clean, qualified, adverse, and disclaimer.