Sentences with phrase «opinion by an auditor»

The consequences of such misalignment are behavior like what we are seeing with Valeant (VRX), whose stock is down 74 % YTD and whose internal controls may get a qualified opinion by their auditor.

Not exact matches

The independent auditors are responsible for auditing the annual financial statements prepared by management and expressing an opinion as to whether those financial statements conform with accounting principles generally accepted in the United States of America.

Audited financial statements long have been accompanied by a report from the independent auditor attesting that, in its opinion, the financial statements are presented fairly in all material respects.

This issue was also raised by the Auditor General in her opinion on the condensed financial statements.

After Cuomo's tart «opinion» comment, DiNapoli's spokeswoman Jennifer Freeman said, «The reports completed by our professional auditors speak loudly for themselves.»

The town's outside auditor, Drescher and Malecki, was so distressed by the state of the town's financial statements in 2014 and 2015 that it refused to offer a formal opinion for either year and threatened to quit, Hosler said.

Washington — The Education Department's top auditor has asked the department's legal office for an opinion regarding the ownership of $ 3.6 - million worth of office equipment and other property now in the hands of educational laboratories and centers supported by the National Institute of Education.

Allison and his team of independent auditors endorsed the methodology that DOE initially used to evaluate these types of projects, writing, «The Independent Consultant used the same Nine Criteria as did DOE because, in the opinion of the Independent Consultant, they comprise the salient factors for evaluating the credits and are substantially similar to the criteria that would be employed by private sector credit analysts for these types of loans.»

Secondly, the Supreme Court made it clear that the duties owed by auditors will very much be defined by the scope of their retainer — i.e. an auditor's opinion given for a limited purpose can not be used to found liability when used for purposes other than that for which it was intended.

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

This approach reflects that auditors rely on management in the audit process and seeks to protect privilege by not having lawyers express their opinions.

In the third party assurance report, an auditor retained by the service provider audits the controls and expresses an opinion about the controls based on the results of its audit.