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Types of Opinions

Adverse Opinion
Adverse Opinion

An adverse opinion is a red flag for investors and can have major negative effects on stock prices. Auditors will usually issue adverse opinions if the financial statements are constructed in a manner that materially deviates from generally accepted accounting principles (GAAP).

Concurring in the Judgment
Concurring in the Judgment

When no absolute majority of the court can agree on the basis for deciding the case, the decision of the court may be contained in a number of concurring opinions, and the concurring opinion joined by the greatest number of judges is referred to as the plurality opinion.

Concurring Opinion
Concurring Opinion

Justice Gorsuch also authored a concurring opinion joined by Justice Samuel Alito. Unlike the majority, Thomas and Gorsuch addressed the First Amendment free expression claim in their separate opinions.

Disclaimer Opinion
Disclaimer Opinion

Statement by auditors that they do not express an opinion on the financial position of a firm because (1) they have not completed an examination of its accounts, or (2) the examination is not broad enough in scope to enable them to form an opinion.

Dissenting Opinion
Dissenting Opinion

A dissenting opinion is an opinion written by a justice who disagrees with the majority opinion. In the US Supreme Court, any justice can write a dissenting opinion, and this can be signed by other justices.

source: thoughtco.com
Majority Opinions
Majority Opinions

The majority opinion is an explanation of the reasoning behind the majority decision of a supreme court. In terms of the United States Supreme Court, the majority opinion is written by a justice selected by either the Chief Justice or if he or she is not in the majority, then the senior justice who voted with the majority.

source: thoughtco.com
Qualified Opinion
Qualified Opinion

A qualified opinion states the financial statements of a client are, with the exception of a specified area, fairly presented. A qualified opinion bears no reflection on the financial standing or operational efficiency of the organization.

Unqualified Opinion
Unqualified Opinion

Unqualified Opinion' An unqualified opinion is the most common type of auditor's report. Like any auditor’s opinion, it does not judge the financial position of the company or interpret financial data.

Related Types