The 4 Types of Audit Opinions

Рет қаралды 118,752

6 жыл бұрын

This video discusses the 4 types of audit opinions that an external auditor may provide after conducting an audit. Companies hire an external auditor to provide an opinion as to whether their financial statements have been presented fairly, and the types of opinions that may be issued are: an unqualified opinion, a qualified opinion, an adverse opinion, and a disclaimer of opinion.
An unqualified opinion, also known as a clean opinion, is issued when the auditor believes that the financial statements are free of material misstatements. A qualified opinion is issued when the financial statements are free of material misstatements, except for a single issue of improper accounting or a single issue in which the scope of the audit was limited. An adverse opinion is issued when the auditor believes the financial statements do contain material misstatements. Finally, a disclaimer of opinion is issued when the auditor cannot provide an opinion as to whether the financial statements are fairly presented. This may occur because the independence of the auditor has been compromised, the scope of the audit has been severely limited, or there are significant uncertainties surrounding the company's financial statements.-
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Пікірлер: 48

@maleina1206 6 жыл бұрын

You seem to be the only person in the world who can talk about accounting without sounding dead inside :D So thanks for making these, you have taught me more than my professor!

@rob8482 6 жыл бұрын

I just passed Intermediate Accounting I. This is the 5th class in a row that I owe to these videos. This is a fact. When I'm so lost I feel I can't be helped, these videos bring it home every time. God bless you, I'm an older (to say the least) student that decided a degree was on my bucket list, plus I like to eat , and my body can't keep performing in construction. I am so grateful to you and these video's. Ten months to go for Accounting Bachelor's degree ....I'm soooooo excited!

@lukamagnotta7966 3 жыл бұрын

I studied Audit for 2 years and my Lecturer could not explain this, yet you did it in 6 minutes. Thanks

@shelleyzhang5474 4 жыл бұрын

I've had so much help from these videos you make! Whatever I"m struggling to understand, your videos make sense of them all. Appreciate these so much!

@huyenhoang627 6 жыл бұрын

informative video! we cant thank you enough. I look forward to more videos on auditing process

@CittizinKane 3 жыл бұрын

I’m beginning my MBA program this summer, my colleague said this would be a great resource and it has!!

@abdallamohamedsaeed 4 жыл бұрын

You are really very good in transferring your understand to us Thank you so much.

@Karina00K 4 жыл бұрын

Thanks so much, this was soo helpful! Love, love your explanations!!! 😊😊

@estonhumphrey2911 5 жыл бұрын

Thanks for these videos!! They are great.

@lilong5202 6 жыл бұрын

Very helpful!! I learned a lot

@saurabhbajaj55 4 жыл бұрын

Hello Prof, I just love your video. Thanks for making them. I was wondering if you can tell me the equipment's you use to make these videos. Specifically the microphone.