What is a disclaimer of opinion example?

What is a disclaimer of opinion example?

A disclaimer of opinion is a statement made by an auditor that no opinion is being given regarding the financial statements of a client. This disclaimer may be given for several reasons. For example, the auditor may not have been allowed or been able to complete all planned audit procedures.

Why might an auditor decide to disclaim an opinion?

Disclaimer of Opinion An auditor may decline to express an opinion whenever he or she is unable to form or has not formed an opinion as to the fairness of presentation of the financial statements in conformity with generally accepted accounting principles.

Under which of the following circumstances might an auditor disclaim an opinion?

Under which of the following set of circumstances might the auditors disclaim an opinion? There has been a material change between periods in the method of application of accounting principles. There are significant scope limitations on the audit.

How do you write a disclaimer of opinion?

How to Write a Views Expressed Disclaimer

  1. Clearly state that the views expressed in the content belong to the content creators and not the organization, its affiliates, or employees.
  2. Create a 1-2 sentence opinion disclaimer that you can include in guest/opinion content.
  3. Provide a link to your detailed disclaimer page.

Why might an auditor issue a disclaimer of opinion after an audit?

Disclaimer of Opinion-Disclaimer Report Auditors that aren’t allowed an opportunity to observe operational procedures or to review particular procedures may feel like they’re not able to express a definite opinion, so they feel a disclaimer is necessary and in order.

What are the types of opinions?


  • 2.1 Public opinion.
  • 2.2 Group opinion.
  • 2.3 Scientific opinion.
  • 2.4 Legal opinion.
  • 2.5 Judicial opinion.
  • 2.6 Editorial opinion.

What are the three types of opinion?

The three types of opinions (qualified, adverse, and disclaimer) that are not unmodified opinions are referred to as modified opinions. LLA’s response when it receives a report with a modified opinion is based on the reason for the modification.

In which of the following circumstances would a qualified opinion not be appropriate?

In which of the following circumstances would a qualified opinion not be appropriate? The auditors lack independence with respect to the audited entity. a violation of generally accepted accounting principles is sufficiently material and pervasive that a qualified opinion is not justified.

What is a qualified opinion vs unqualified?

A qualified opinion is a reflection of the auditor’s inability to give an unqualified, or clean, audit opinion. An unqualified opinion is issued if the financial statements are presumed to be free from material misstatements. It is the most common type of auditor’s opinion.

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