qualified opinion, report Definition | Business Dictionaries from AllBusiness.com
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Business Definition for: qualified opinion, report
qualified opinion, report

judgment by the CPA in the audit report that "except for" something, the financial statements fairly present the financial position and operating results of the firm. An except for opinion relates to a limitation placed on the scope of the audit. The result of the limitation is the failure of the CPA to obtain sufficient objective and verifiable evidence in support of business transactions of the company being audited.

See also unqualified opinion , adverse opinion , disclaimer
Copyright © 2005, 2000, 1995, 1987 by Barron's Educational Series, Inc., Reprinted by arrangement with Publisher.

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