unqualified

Examples of unqualified in the following topics:

• 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.

• Additional Items: Auditor and Management Reports

  • An opinion is unqualified when the auditor concludes that the financial statements give a true and fair view in accordance with the financial reporting framework used for their preparation and presentation.
  • An unqualified report is the best type of report a company can receive from an external auditor.
  • It is considered the opposite of an unqualified or clean opinion, essentially stating that the information contained is materially incorrect, unreliable, and inaccurate.
  • State how qualified opinion, unqualified opinion, adverse and disclaimer opinion reports differ from one another

• 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.