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Disclaimer of opinion definition

Accounting Tools

Related Courses How to Conduct an Audit Engagement What is a Disclaimer of Opinion? A disclaimer of opinion is a statement made by an auditor that no opinion is being given regarding the financial statements of a client. This disclaimer may be given for several reasons.

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Did your state receive a clean audit opinion this year?

Accounting Today

Whether a qualified, disclaimer or adverse opinion is given depends on the nature and scale of the problem, and some states had lots of problems.

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Trump insists on 'disclaimer' defense already tossed in NY fraud trial

Accounting Today

Central to the case are the statements of financial condition Trump had his accountants at Mazars USA LLP send to lenders detailing his assets and their values.

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Except-for opinion definition

Accounting Tools

An except-for opinion is also not as bad as a disclaimer of opinion, in which the auditor cannot form an opinion regarding the fairness of the client’s financial statements.

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Piecemeal opinion definition

Accounting Tools

It was usually issued when an auditor was issuing an adverse opinion or a disclaimer of opinion. A piecemeal opinion is no longer allowed under generally accepted auditing standards , but had been intended to offset an overall adverse opinion or disclaimer of opinion.

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Adverse opinion definition

Accounting Tools

Related Articles Auditor’s Opinion Disclaimer of Opinion Opinion Shopping Piecemeal Opinion Qualified Opinion Unqualified Opinion Impact of an Adverse Opinion When a publicly-held company receives an adverse opinion from its auditor, the stock exchange on which its shares are listed may force it to de-list from the exchange.

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Auditor's opinion definition

Accounting Tools

Disclaimer Another possible outcome is the disclaimer, where the auditor states that no opinion can be given regarding the financial statements due to such factors as the absence of financial records or a lack of cooperation by the client’s management team.