Business and Personal Finance Dictionary

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• OPINION LETTER
  
  Letter issued by a certified public accountant to accompany financial statements. The opinion letter has two parts. One describes the scope of the accountant’s work in the preparation and testing, if any, related to the preparation of the financial reports covered by the letter. The other provides the accountant’s opinion regarding the fairness, accuracy, and conformity with GAAP of the financial statements. Accountant’s opinions are categorized as unqualified, qualified, disclaimer, or adverse depending upon the nature of the comments in the letter. See adverse opinion, disclaimer opinion, qualified opinion, and unqualified opinion.
  
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