Dictionary of Accounting Terms: qualification
qualification
- reference in the audit report to a material limitation placed on the auditor's examination or to uncertainty regarding a specific item in the financial statements. See also qualified opinion, report.
- reservation in a proposed agreement making the agreement unenforceable unless a specified condition is met.
- technical competence to perform a particular job, such as passing the CPA examination and meeting experience requirements in order to be licensed as a certified public accountant.
