Qualified audit opinion

A qualified audit opinion is given in an audit if the auditor disagrees with the treatment or disclosure of information in the financial statements, or if the auditor does not feel that the audit has been too limited in its scope. Except for the qualification of a particular issue, the rest of the financial statements will give a true and fair view.

The accounts of listed companies are rarely qualified and it would seriously undermine confidence in the management if they were.

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