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Accounting
Qualified Opinion
An auditor's opinion that says the financial statements are mostly fair but have specific problems or limitations.
A qualified opinion is less serious than an adverse opinion but more serious than an unqualified (clean) opinion. It highlights exceptions without saying the whole report is wrong.
It's the auditor saying 'your report card is good overall, but you lost marks on this one subject'.
Real world: An auditor gives a qualified opinion because inventory valuation methods are not consistent with previous years. The statements are still useful, but users should be aware of the issue.
💡 A qualified opinion means 'mostly okay, but pay attention to these problems'.