Sentences with phrase «audit opinion»
An audit opinion refers to the conclusion or judgment made by an auditor after reviewing a company's financial statements. It states whether the financial statements are accurate, reliable, and fairly represent the company's financial position. The audit opinion can be positive (also known as an unqualified opinion), indicating that the financial statements are dependable, or it can be negative, highlighting issues or irregularities found during the audit process. Full definition
There's not another military service that has one — yet we as a military service have five consecutive clean financial audit opinions.
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According to an SEC release in May, an Andersen partner authorized unqualified audit opinions even though «he was aware of many of the company's accounting improprieties and disclosure failures.»
In particular, the Supreme Court of Canada upheld the trial judgment that Deloitte was liable to Livent and its stakeholders for approximately $ 40 million in damages suffered as a result of Deloitte's clean audit opinion on Livent's 1997 financial statement.
«DLA is the first of its size and complexity in the Department of Defense to undergo an audit so we did not anticipate achieving a «clean» audit opinion in the initial cycles,» the agency said in a statement.
Foreign policy has a huge impact on our daily lives and people have strong views about Britain's role abroad — as a Democratic Audit opinion poll from 2006 made clear.
Among other things, the Supreme Court of Canada highlighted the trial findings of negligence in continuing to issue clean audit opinions after knowing of deliberate deception by Livent management and what Deloitte itself characterised as «aggressive, if not questionable, accounting practices» on the part of Livent management.
The brazen nature of the fraud by management and the trial findings about Deloitte's willingness to issue a clean audit opinion despite knowing it had been intentionally deceived by management were extraordinary, as was the subsequent complete financial downfall of Livent shortly after Deloitte issued that clean opinion.
Fourthly, in rejecting the appellant's argument that upholding the trial decision could lead to indeterminate liability, the Supreme Court implicitly capped the damages that can flow from a single audit opinion at one year — given that statutory audits must occur annually.
A Canadian accounting firm, Schwartz Levitsky Feldman («SLF»), had provided a clean audit opinion regarding the company as part of the private placement and was sued for alleged negligence and misrepresentations in its audit report by the one Ontario - based investor, Excalibur, on behalf of a proposed global class comprised of all worldwide investors.
Delivered audit opinion, ensuring accuracy and reliability in the interpretation of financial statements and accounting reports for internal and external clients.
Audit availability: The results depicted in these graphs and financial summaries are derived from Stand for Children Leadership Center's audited August 31, 2016 financial statements, which contain an unqualified audit opinion.
In particular, inspections show that the vast majority of companies restating prior year financial statements because of material misstatements or errors received a «clean» audit opinion in the year in which the restatement was announced.
On that note, we've opened our books for five years running to a third - party auditor, and they checked our debits and credits, and we had five consecutive clean financial audit opinions.
Livent's Receiver Manager sued former Livent auditor, Deloitte & Touche for issuing clean audit opinions and a comfort letter to potential investors in the face of numerous red flags indicating fraud by senior management that it said Deloitte should have detected.
«I have therefore once again qualified my audit opinion on the trust statement.
Audit availability: The results depicted in these graphs and financial summaries are derived from Stand for Children, Inc.'s audited August 31, 2016 financial statements, which contain an unqualified audit opinion.
Who are the company's auditors, what is their reputation, where are they located and what did they say in their audit opinion?
The Foundation received an unqualified audit opinion.
Can you imagine what would happen, to say a registered company auditor, if it were discovered that some of the auditor's vital audit working papers, upon which his audit opinion had been based, had not been archived?
Livent's Receiver Manager sued former Livent auditor, Deloitte & Touche for issuing clean audit opinions and a comfort letter to potential investors in the face of numerous red flags indicating fraud by senior management that it said Deloitte... [more] Full article
He has broad experience litigating challenges to financial statements and audit opinions and a demonstrated ability to distill complex accounting issues into themes and arguments that can persuade a judge or jury.
Efficiently managed various engagements with significant fraud risks, and investigated fraudulent activities that successfully resulted in restatement audits and unqualified audit opinion