Quick Finance Tip - Audit Opinions

Audit Opinions can either be:

1. Unqualified - Other known as the “clean” opinion and the one we should all want to see. It gives a “true and fair view” of the financial statements. They are “fairly presented” in accordance to accounting standards;
2. Qualified - there is some limitation/exception (exceptions are explained with additional explanatory paragraphs so investors can determine importance);
3. Adverse - refers that financial statements materially depart from accounting standards (this means to not even bother reading the financial statements;
4. Disclaimer of Opinion, means that auditors are unable to issue an opinion.