Statement Of Opinion (Accountants Report, Auditors Report)

Definition of "Statement of opinion (Accountants report, auditors report)"

Y Renee Holman real estate agent

Written by

Y Renee Holmanelite badge icon

RE/MAX New Trend

Statement by an auditor or certified public accountant indicating if a company's financial statements fairly present its true financial condition. A statement of opinion may be unqualified, qualified, or adverse. An unqualified, or "clean," opinion indicates no exceptions or qualifications were found by the auditor. A qualified report means the statement makes a fair presentation of a firm's financial condition except for some important uncertainties with effects that cannot be determined by the auditor. In the case of an insurance company, an example of an important uncertainty that might lead to a qualified opinion would be the outcome of litigation over a major disputed claim. An adverse opinion means the auditor is unwilling to vouch for the financial statements presented by the company.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Provision in corporate life insurance policies that allows coverage to be transferred to a new individual with proof of insurability, for a premium appropriate to the age of the new ...

One of two bureaus that writes forms and files standard rates for inland marine insurance. The other is the inland marine insurance bureau. ...

Property insurance coverage available to businesses that pays the established market (sales) value of products that are damaged rather than simply their lower (production) cost. This fills ...

Same as term Direct Response Marketing: method of selling insurance directly to insureds through a companies own employees, through the mail, or at airport booths. The company uses this ...

Transfer of highly individualized loss exposures that is not based on the usual pooling principles of insurance such as risk identification and classification selection. Rather than setting ...

Prepaid group health insurance plan that entitles members to services of participating physicians, hospitals, and clinics. Emphasis is on preventive medicine. Members of the HMO pay a flat ...

Defined contribution pension plan in which employer contributions are set under a collective bargaining agreement. It usually covers the employees of a number of firms and is administered ...

Coverage for less than one year in duration. ...

Bodily or emotional injury resulting from physical or mental wound or shock. A traumatic injury is caused by something outside the person's body as opposed to a sickness or a disease. An ...

Popular Insurance Questions