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An opinion is said to be unqualified when he or she does not have any significant reservation in respect of matters contained in the Financial Statements. The most frequent type of report is referred to as the "Unqualified Opinion", and is regarded by many as the equivalent of a "clean bill of health" to a patient, which has led many to call it the "Clean Opinion", but in reality it is not a ...
A qualified opinion is that the financial statements are presented fairly in all material respects in accordance with US GAAP, except for a material misstatement that does not however pervasively affect the user's ability to rely on the financial statements. A qualified opinion with a scope limitation of limited significance may also be issued ...
The auditor expresses an opinion on whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework, such as IFRS. [10] ISA 320, paragraph A3, states that this assessment of what is material is a matter of professional judgement.
The presence of material misstatements could result in receiving an adverse opinion on internal controls and a qualified opinion on the financial statements. Material misstatements are expensive to fix, and receiving an adverse or qualified opinion generally results in a drop in stock price of a publicly traded company.
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Use this inline template to tag a sentence that may be opinion presented as fact. Template parameters [Edit template data] Parameter Description Type Status Month and year date Month and year of tagging; e.g., 'January 2013', but not 'jan13' Example January 2013 Auto value {{subst:CURRENTMONTHNAME}} {{subst:CURRENTYEAR}} String suggested See also {{ Fact or opinion }}
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Use this cleanup template to indicate that an article is written like a personal reflection, personal essay, or argumentative essay that states a Wikipedia editor's personal feelings or presents an original argument about a topic. Template parameters [Edit template data] This template prefers inline formatting of parameters. Parameter Description Type Status Month and year date The month and ...