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Business Definition for: qualified opinion
Dictionary of Finance and Investment Terms
qualified opinion

auditor's opinion accompanying financial statements that calls attention to limitations of the audit or exceptions the auditor takes to the statements. Typical reasons for qualified opinions: a pending lawsuit that, if lost, would materially affect the financial condition of the company; an indeterminable tax liability relating to an unusual transaction; inability to confirm a portion of the inventory because of inaccessible location.

See also accountant's opinion
Dictionary of Banking Terms
qualified opinion

opinion by a certified auditor, stating that the auditor is unable to verify completely the accuracy of the financial records of a bank, because of certain omissions in the records or the limited scope of the audit . A qualified opinion does not necessarily mean, however, that there are serious errors or omissions.

Dictionary of Business Terms
qualified opinion

language in the auditor's opinion accompanying financial statements that calls attention to limitations of the audit or exceptions the auditor takes to items in the statements. Typical reasons for qualified opinions: pending lawsuit that, if lost, would materially affect the financial condition of the company; indeterminable tax liability relating to an unusual transaction; inability to confirm a portion of the inventory because of inaccessible location.

See also accountant's opinion
Related Terms:
accountant's opinion

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.

accountant's opinion

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.

Referring Terms:
subject to opinion
unqualified opinion
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