Which option is not one of the standard audit opinions described?

Which option is not one of the standard audit opinions described?

• A. Inconclusive opinion
• B. Unqualified opinion
• C. Qualified opinion
• D. Disclaimed opinion

Answer: (A)

Auditors issue a formal opinion on whether the financial statements present fairly, in all material respects. The standard set of opinions includes unqualified (clean), qualified, adverse, and disclaimer. The term “inconclusive” isn’t used as a formal opinion category in auditing standards, so it’s not a standard opinion. The other options describe genuine categories: an unqualified opinion means the statements are presented fairly; a qualified opinion indicates there are identifiable issues that don’t fully distort the overall fairness; and a disclaimer means the auditor cannot obtain sufficient evidence to form any opinion. So the option bearing the inconclusive label does not fit the standard descriptions.

Auditors issue a formal opinion on whether the financial statements present fairly, in all material respects. The standard set of opinions includes unqualified (clean), qualified, adverse, and disclaimer. The term “inconclusive” isn’t used as a formal opinion category in auditing standards, so it’s not a standard opinion. The other options describe genuine categories: an unqualified opinion means the statements are presented fairly; a qualified opinion indicates there are identifiable issues that don’t fully distort the overall fairness; and a disclaimer means the auditor cannot obtain sufficient evidence to form any opinion. So the option bearing the inconclusive label does not fit the standard descriptions.