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Скачать или смотреть The 4 Types of Audit Opinions

  • Edspira
  • 2017-09-10
  • 144245
The 4 Types of Audit Opinions
auditauditoraudit opinionunqualified opinionqualified opinionadverse opiniondisclaimer of opinionauditingfinancial accountingaccounting
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Описание к видео The 4 Types of Audit Opinions

This video discusses the 4 types of audit opinions that an external auditor may provide after conducting an audit. Companies hire an external auditor to provide an opinion as to whether their financial statements have been presented fairly, and the types of opinions that may be issued are: an unqualified opinion, a qualified opinion, an adverse opinion, and a disclaimer of opinion.

An unqualified opinion, also known as a clean opinion, is issued when the auditor believes that the financial statements are free of material misstatements. A qualified opinion is issued when the financial statements are free of material misstatements, except for a single issue of improper accounting or a single issue in which the scope of the audit was limited. An adverse opinion is issued when the auditor believes the financial statements do contain material misstatements. Finally, a disclaimer of opinion is issued when the auditor cannot provide an opinion as to whether the financial statements are fairly presented. This may occur because the independence of the auditor has been compromised, the scope of the audit has been severely limited, or there are significant uncertainties surrounding the company's financial statements.—
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