Audit opinion not qualified for any material scope restrictions nor departures from Generally Accepted Accounting Principles (GAAP). The auditor may issue an unqualified opinion only when there are no identified material weaknesses and when there have been no restrictions on the scope of the auditor's work. Also known as Clean Opinion .
Term used to describe an opinion letter accompanying audited financial statements in which the CPA states that the financial statements fairly present the financial position and the results of operations. The CPA will also state that the financial statements conform with GAAP for the present and the preceding reporting periods.
An unqualified or "clean" opinion is one in which the auditor can state, without any reservation, that the financial statements are fairly presented in conformity with generally accepted accounting principles (GAAP).
An auditor's report that states the financial statements present fairly, in all material respects, the financial position and results of operations of the reporting entity, in conformity with generally accepted accounting principles.
This refers to a standard report issued by the CPA on the financial statement of a company. This report contains no exceptions, qualifications or disclaimers. It is the report most commonly seen attached to the financial statements of a company. An unqualified opinion states the basic financial statements of a specified company are fairly presented in conformity with Generally Accepted Accounting Principles (GAAP) applied on a basis consistent with the prior year.
A "clean" auditor's report. That is, the auditor has concluded that the financial statements present fairly the results of the company's operations and its financial position according to generally accepted accounting principles. To Top