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Adverse Opinion
Outside auditors express written opinions about the accuracy and validity of the financial statements of the companies they audit. An adverse opinion generated by a CPA firm indicates that the financial statements as presented or as published violate one or more basic accounting principles as codified in Generally Accepted Accounting Principles. As a result of violating GAAP, the financial statements present incorrect and distorted data about the financial condition or the financial health of the company that was being audited.
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