Qualified Audit Opinion Law and Legal Definition

Qualified Audit Opinion is a type of audit opinion made by an independent auditor which suggests that the information provided was limited in scope and/or the company being audited has not maintained generally accepted accounting principles. This happens when 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.