Unqualified Audit


DEFINITION of 'Unqualified Audit'

Also known as a complete audit. An audit that has been performed and researched so thoroughly that the only possible remaining discrepancies stem from information that could not be obtained by the auditor. An unqualified audit analyzes both the internal systems of control, as well as all of the details in the organization's books. All ancillary documentation and supporting records are used in an unqualified audit.

BREAKING DOWN 'Unqualified Audit'

An unqualified audit is essentially the opposite of an unaudited opinion, which gives an opinion without any actual research. Unqualified audits are performed according to accepted accounting principals, with an emphasis on detail and accuracy. If an audit cannot be classified as unqualified, then a qualified opinion is given instead that outlines the auditor's reservations concerning the organization's financial statements.

  1. Audit

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  2. Short-Form Report

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  3. Internal Audit

    The examination, monitoring and analysis of activities related ...
  4. Office Audit

    An examination of a taxpayer's records by the Internal Revenue ...
  5. Auditor's Report

    Recorded in the annual report, the auditor's report tests to ...
  6. Audit Trail

    A step-by-step record by which accounting data can be traced ...
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