Qualified Opinion

Qualified Opinion Definition (in the Accounting Vocabulary)

The New York State Society of Certified Public Accountants offers the following definition of Qualified Opinion in a way that is easy for anybody to understand: AUDIT opinion that states, except for the effect of a matter to which a qualification relates, the FINANCIAL STATEMENTS are fairly presented in accordance with GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP). The AUDITOR is required to qualify when there is a scope limitation.