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In what circumstances would a company receive an adverse opinion or a disclaimer opinion?

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Question added by Deleted user
Date Posted: 2017/05/21

Company may get adverse opinion if financial statement of the company misrepresented and do not represent accurate financial position of the company.

Bhonnie Salamat
by Bhonnie Salamat , ACCOUNTING STAFF , DECOARTS MARKETING, INC

a company may receive adverse opinion if the company's F/S statement is misrepresented, misstated and do not accurately reflect its financial performance while disclaimer the auditor has a limitation in scope imposed by the company as a result the auditor is unable to obtain sufficient audit evidence and also the conflict of interest.

Jibran  Tariq ACCA UK
by Jibran Tariq ACCA UK , Chief Accountant/Financial Analyst , Rosenbauer Saudi Arabia LTD.

Auditor Believe that Financial statement is meaning less than he gives adverse opinion and for disclaimer mean then auditor was not able to get proper evidence to give opinion due to limitation of scope as not access to gather full evidence.

ايمن محمد عاطف محمد
by ايمن محمد عاطف محمد , Director of the control and regulation unit , ACOLID

The Independent External Auditor prepares the report on the audit of the Company's financial statements.1. Opinion without reservation (clean opinion)2. Opinion with reservation (restricted opinion)Negative opinion (opposite)34. Refrain from expressing an opinion   As an example, the controller is not allowed to contact customers by sending the ratifications to verify the validity of the balances with the company subject of review and examination in that

case must be explained in his report as follows

Refrain from expressing "Disclaimer's Opinion"Since the Controller can not be given a technical opinion on the audited financial statements because of restrictions imposed by the management of the company prevented him from starting his workThe references provide an opposite view in case there is a material physical distortion.The auditor also provides a conservative opinion in the event of events affecting the financial statements as an example of insufficient provision for doubtful debts and no provision for liabilities to the company under a judgment or dispute likely to be rendered in favor of the company and other reasons.

Bharat Karnani
by Bharat Karnani , SVP- Finance , ADS securities LLC

If the financial statements of the company are misrepresented and do not represent accurate financial position of the company then a company receives adverse opinion or a disclaimer opinion.

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