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Qualified Opinion
What does it mean?
A statement written upon the front page of an audit done by a professional auditor. A qualified opinion suggests that the information provided was limited in scope and/or the company being audited has not maintained GAAP accounting principles.
In Other Words...
Contrary to its connotation, a qualified opinion is not a good thing. Auditors that deem audits as qualified opinions are advising whomever is reading the document that the information within the audit is not complete or that the accounting methods used by the company do not follow GAAP.
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Related Terms
Accounting | Adverse Opinion | Annual Report | Auditor's Report | Balance Sheet | GAAP | Income Statement | Opinion Shopping
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