A(n)________ is an auditor's opinion that states that the financial statements are fairly represented except for, or subject to, a departure from GAAPs, a change in accounting principles, or a material uncertainty.
A)unqualified opinion
B)qualified opinion
C)adverse opinion
D)disclaimer of opinion

Question

Quizplus · Accepted Answer

A qualified opinion is given when the financial statements are fairly represented except for a specific departure from GAAPs, a change in accounting principles, or a material uncertainty. This means that there is an issue with the financial statements that has been identified by the auditor, but it is not significant enough to affect the overall fairness of the statements. It is a step below an unqualified opinion, which is given when the financial statements are found to be fairly represented without any reservations or qualifications.

A(n)________ Is an Auditor's Opinion That States That the Financial