adverse opinion


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Related to adverse opinion: Disclaimer of opinion
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Noun1.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 Statesadverse 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
opinion, view - a message expressing a belief about something; the expression of a belief that is held with confidence but not substantiated by positive knowledge or proof; "his opinions appeared frequently on the editorial page"
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But it has not been quite so often remarked that this power (fallible, like every other human attribute) is for the most part absolutely incapable of self-revision; and that when it has delivered an adverse opinion which by all human lights is subsequently proved to have failed, it is undistinguishable from prejudice, in respect of its determination not to be corrected.
An audit reveals that of the accounts studied, 46 per cent had a qualified audit opinion, 10 per cent an adverse opinion, while no conclusion could be reached for eight per cent.
The amount was allegedly allocated to blackmail the MCAs to pass crucial Bills.This led to the sacking of Finance Executive Vincent Masawi for the financial mess that made Auditor-General Edward Ouko to issue an adverse opinion in the 2017/2018 audit report.
However, it notes that RSM's audit reports on Townsquare's consolidated financial statements for fiscal 2017 and fiscal 2018 did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles.
In some cases, even an adverse opinion is thrown to the dustbin and a fresh opinion is sought by authorities sympathetic to a given candidate.
The Department and its components continue working toward downgrading its adverse opinion on its ICOFR audit.
With this apparent lapse in checking and verifying the facts of certain reports and allowing its broadcast or publication, or commenting on the same, many people have mistakenly formed highly adverse opinion on the concerned issue at the expense of those erroneously blamed as responsible.
The external statutory auditors told the management that they would have to give an adverse opinion due to the missing record.
At the outset, the government's independent auditors questioned ('rendered an adverse opinion on the fairness of presentation of') the consolidated DPWH financial statements due to various accounting errors and deficiencies.
The UK Government and Legal Order consider the Base Areas as part of the Colony of Cyprus (Bashir case 2018) and very well knows that an adverse opinion in the Mauritius case will create problems for the so-called Sovereign Bases in Cyprus.
Until 2016, the auditors had always given an adverse opinion. However, the 2016 report gives a qualified opinion that "A significant part of the 2016 expenditure audited was not affected by a material level of error".