An audit opinion is an expression provided by auditors within an auditors' report, stating whether the financial statements have been prepared consistently using appropriate accounting policies and standards, and if there is adequate disclosure of vital information.
A disclaimer of opinion is a statement made by an auditor indicating that they could not obtain sufficient evidence to form an opinion on the financial statements due to a significant limitation on the scope of the audit.
An auditors' report that includes qualifications due to scope limitations or disagreements regarding the treatment/disclosure of matters in financial statements based on the degree of materiality.
