adverse opinion

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Related to adverse opinion: Disclaimer of opinion
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  • noun

Words related to adverse opinion

an opinion concerning financial statements (usually based on an audit by a CPA) that the statements as a whole do not present results fairly or are not in conformity with the generally accepted accounting practices of the United States

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Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
References in periodicals archive ?
For the Judiciary, the auditor's adverse opinion followed the institution's failure to account for Sh9.4 billion spent on projects including court construction.
As mentioned above, if the IRS indicates the likelihood of an adverse opinion, the taxpayer may withdraw the request.
In a rather adverse opinion, the IMF noted that policy implementation had weakened and macroeconomic vulnerabilities begun to re-emerge as fiscal consolidation slowed, the current account deficit widened, and foreign exchange reserves declined.
"The artist should reflect on this and the adverse opinion that is coming in."
* Did the auditor issue an adverse opinion in the past year?
The audit reports of Mazars, the consolidated financial statements of MMIL and subsidiaries as of and for the years ended December 31, 2013 and 2014 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles.
Does this possibly reflect an adverse opinion of a large number of Bar members regarding the operation or effectiveness of The Florida Bar?
In terms of strengthening disclosure and protecting investors, the CMA's board issued its resolution to suspend trading the shares of a listed company if the certified public accountant's report on its preliminary or annual financial statements included a Disclaimer of Opinion or an Adverse Opinion and it will be lifted after removing the Disclaimer of Opinion or an Adverse Opinion from the financial reports.
If withdrawal is not allowed by law or regulation, the CPA should disclaim an opinion, unless the CPA has evidence that an adverse opinion is appropriate.
Henceforth, the US is likely to lose the legal battle with Iran at the UN, which in turn raises the question of what happens if the US ignores the adverse opinion of the arbitration panel.
Even if auditors issue an adverse opinion or a qualified report, no further investigation takes place since vested interests bar all such efforts.
Unqualified (clean) Opinion, Qualified Opinion, Adverse Opinion, and Disclaimer of Opinion.
He said that in 2012 Alex Grig received adverse opinion from the G & Co Audit.
Thus, by finding an estimated error rate of 3.9% overall for the 18th year in a row, the court has delivered an adverse opinion on the legality and regularity of payments underlying the accounts.