In various fields such as Accounting, Finance, International Trade, and Securities, the term 'Clean' refers to different contexts of unstained or debt-free conditions, reflecting a desirable state or favorable judgment.
A clean opinion, also known as an unqualified opinion, is an auditor's verdict that a company's financial statements are accurate and comply with Generally Accepted Accounting Principles (GAAP).
Opinion shopping refers to the practice of a company seeking out an auditor who is willing to approve its financial statements without qualifications, even when they do not meet generally accepted accounting principles.
An unqualified opinion is an independent auditor's opinion that a company's financial statements are fairly presented, in all material respects, in conformity with generally accepted accounting principles (GAAP). It is also referred to as a clean opinion.
