Subject to opinion
An auditor's opinion reflecting acceptance of a company's financial statements subject to pervasive uncertainty that cannot be adequately measured, such as information relating to the value of inventories, reserves for losses, or other matters subject to judgment. |
Similar financial terms
Subjective probabilitiesProbabilities that are determined subjectively (for example, on the basis of judgement rather than using statistical sampling).
Subject
Refers to a bid or offer that cannot be executed without confirmation from the customer.
Debt outstanding subject to limitation
Obligations incurred by the Treasury subject to the statutory limit set by Congress. Until World War 1, a specific amount of debt was authorized for each separate security issue. Beginning with the Second Liberty Loan Act of 1917, the nature of the limitation was modified until, in 1941, it developed into an overall limit on the outstanding Federal debt. The statuatory limit may change from year to year.
Opinion shopping
A practice prohibited by the SEC which involves attempts by a corporation to obtain reporting objectives by following questionable accounting principles with the help of a pliable auditor willing to go along with the desired treatment.
Clean opinion
An auditor's opinion reflecting an unqualified acceptance of a company's financial statements.
