Qualified Accounts or Report

Qualified Accounts or Report An auditor’s report which is not fully satisfied with the books of account or records, or isn’t very happy about the explanations offered by the management. Such a report to the shareholders of a company may also comment on the trading accounts and the financial position as presented by the company. A non – committal statement like ‘according to the management’ implies that the auditor is not vouching for its truth. Even at the risk of losing their positions as company auditors, reputed accountancy firms as a rule do not gloss over management defaults.

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