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Financial Analysis Chapter 1

Across
Securities and Exchange Commission
Opinion rendered by an independent auditor stating the FS have not been presented fairly in accordance with GAAP
Generally Accepted Accounting Principles
A report rendered by an independent auditor of FS stating that they have been presented fairly in accordance with GAAP
Down
An opinion rendered by an independent auditor when the overall FS are fairly presented “except for” certain items that the auditor discloses
An opinion rendered by an Independent auditor of FS stating that the FS have been presented fairly in accordance with GAAP, but there are items which the auditor wishes to explain to the user.
Independent auditor could not evaluate the fairness of the financial statements, and as a result, expresses no opinion on them
Financial Accounting Standards Board