opinion shopping

Examples of opinion shopping in the following topics:

• Preparing Financial Statements

  • To ensure a positive reports, some companies try to participate in opinion shopping.

• An Expanded Equation

  • To ensure a positive reports, some companies try to participate in opinion shopping.

• Additional Items: Auditor and Management Reports

  • When an audit is performed on a company, the auditor issues a formal opinion in the form of an auditor report.
  • This opinion takes the form on an auditor report .
  • A qualified opinion report is issued when the auditor encounters one of two types of situations.
  • A disclaimer of opinion, also referred to as a disclaimer, occurs when the auditor could not form, and consequently refuses to present, an opinion on the financial statements.
  • State how qualified opinion, unqualified opinion, adverse and disclaimer opinion reports differ from one another

• Full-Disclosure Principle

  • To obtain an unqualified (or clean) opinion, one must have an intrinsic understanding of the full disclosure principle to insure sufficient information for an unqualified opinion on the financial audit.
  • An opinion is said to be unqualified when the auditor concludes that the financial statements give a true and fair view in accordance with the financial reporting framework used for the preparation and presentation of the financial statements.
  • An auditor gives a clean opinion or unqualified opinion when he or she does not have any significant reservation in respect of matters contained in the financial statements.

• Cost of Buildings

  • ., convenience stores, "big box" stores, shopping malls, etc.).

• Gain Contingencies

  • For example, an auditor expresses an opinion on whether financial statements are prepared, in all material aspects, in conformity with generally accepted accounting principles (GAAP).

• Uses of Financial Reports

  • Results are summarized in an audit report that either provides an unqualified opinion on the financial statements or qualifications as to its fairness and accuracy.
  • The audit opinion on the financial statements is usually included in the annual report.

• Basic Components of Asset Valuation

  • Moreover, an asset's intrinsic value may be subject to personal opinion and vary among analysts.
  • An appraised value is an expert's opinion of an item's fair market price if the item were sold.

• Fair Value Method

  • Opinions on value are always based upon subjective interpretation of available information at the time of assessment.

• Loss Contingencies

  • However, in management's opinion, the final resolution of all legal matters will not have a material adverse effect on the Company's financial position.