What is Unqualified opinion
The unqualified opinion of the independent professional judgment of an auditor that financial statements are not fairly and properly represented, without exception, and in accordance with accounting standards.
Imprisonment is the most common type of report of the auditor. As the opinion of any auditor, not to judge the company’s financial position or interpret financial data. It’s just a letter in the auditor’s report, which States that financial statements conform to generally accepted accounting principles (GAAP) and are not hidden any important facts. It is issued when the auditor believes that any changes to accounting principles and their application and implications were uncovered. Absolute report may state that “in our opinion, the financial statements give a true and fair view of the financial position …”
This is compared to a qualified opinion in which the auditor has determined that there is a material question on accounting policies but not to distort the actual financial position. Auditors are usually qualified reports, with statements like “except for the following changes” when they have enough information to verify various aspects of operations and statements of which are audited. A qualified opinion may be issued if the financial statements deviate from GAAP or insufficient erection. If the financial statements have been really misrepresented, or misstated, the auditor may report negative opinions or refusal of opinions.