DEFINITION of 'Unaudited Opinion'

An opinion that can be offered by a Certified Public Accountant before he or she audits an organization's books. This is known as an unaudited opinion, and it will reflect the opinion of the accountant or CPA concerning the organizations's books and financial records. The subsequent audit may or may not bear out the opinion given.

BREAKING DOWN 'Unaudited Opinion'

Unaudited opinions are given to provide the organization being audited with some idea of the expected results. This is the opposite of an audited opinion, which is given at the end of an audit and is based upon its findings.

  1. Auditor's Opinion

    A certification that accompanies financial statements and is ...
  2. Unqualified Audit

    Also known as a complete audit. An audit that has been performed ...
  3. Audit

    An unbiased examination and evaluation of the financial statements ...
  4. Adverse Opinion

    An adverse opinion is an opinion made by an auditor indicating ...
  5. Audit Risk

    The risk that an auditor will not discover errors or intentional ...
  6. Continuous Audit

    An auditing process that examines accounting practices continuously ...
Related Articles
  1. Taxes

    How Does An IRS Audit Work?

    It doesn't automatically mean an IRS agent will be ringing your doorbell. Here are the different types of IRS audits and how to handle them.
  2. Taxes

    What To Do If You Get Audited

    If you're in the minority of those that get audited, find out how to prepare and how to handle the process.
  3. Taxes

    Surviving The IRS Audit

    Keeping thorough records and knowing the penalties make this experience easier than you'd expect.
  4. Financial Advisor

    Advisors: Warn Clients About These Audit Triggers

    There are several factors that may increase the risk of an audit, especially with high-net-worth clients.
  5. Financial Advisor

    SEC Audit? No Problem (If You're Prepared)

    Audits are unwanted and unpleasant, but by getting your proverbial ducks in a row ahead of time you can ease and simplify the process.
  6. Personal Finance

    A Day In The Life Of An Auditor

    If you like the idea of examining and attesting to a company's financial performance for a living, a career in auditing might be right for you.
  7. Taxes

    Should You Be Worried About a Tax Audit This Year?

    Tax audits have decreased in recent years and are targeted toward high earners and business owners.
  8. Insights

    How The IRS Works: Functions & Audits

    Even the most enlightened citizen curses taxes, possibly while simultaneously acknowledging that they're the price of a civilized society.
  9. Taxes

    How to Avoid the 6 Most Common Tax Audit Triggers

    These are the most common scenarios that can trigger the IRS to audit a tax return.
  10. Taxes

    Avoid an Audit: 6 "Red Flags" You Should Know

    Don't make yourself a target - steer clear of these attention-grabbing tax-filing practices.
  1. What's the average salary of an audit clerk?

    Learn how much audit clerks earn per year on average, and review what these finance professionals and others in similar fields ... Read Answer >>
  2. What is the difference between a compiled and a certified financial statement?

    All publicly-traded companies are required to provide financial statements, including a balance sheet, cash flow statement ... Read Answer >>
  3. How is inherent risk assessed by an auditor?

    Learn how CPA auditors assess the levels of inherent risk of different audit areas that they use to design the procedures ... Read Answer >>
  4. Who enforces GAAP?

    Take a deeper look at the private enforcement mechanisms behind the generally accepted accounting principles for American ... Read Answer >>
  5. What are some examples of general and administrative expenses?

    Learn examples of the general and administrative expenses such as audit fees, legal fees, rent, utilities and office equipment ... Read Answer >>
Hot Definitions
  1. Money Market

    The money market is a segment of the financial market in which financial instruments with high liquidity and very short maturities ...
  2. Perfect Competition

    Pure or perfect competition is a theoretical market structure in which a number of criteria such as perfect information and ...
  3. Compound Interest

    Compound Interest is interest calculated on the initial principal and also on the accumulated interest of previous periods ...
  4. Income Statement

    A financial statement that measures a company's financial performance over a specific accounting period. Financial performance ...
  5. Leverage Ratio

    A leverage ratio is any one of several financial measurements that look at how much capital comes in the form of debt, or ...
  6. Annuity

    An annuity is a financial product that pays out a fixed stream of payments to an individual, primarily used as an income ...
Trading Center