Definition of pre-tax: The gross amount paid for a good or service before taxes are taken out. Pre-tax exists in various financial transactions, such as wages paid, healthcare plans, childcare plans, and retirement ... Dictionary Term of Day Articles Subjects Sign Up BusinessDictionary
Unqualified Opinion. Often called a clean opinion, an unqualified opinion is an audit report that is issued when an auditor determines that each of the financial records provided by the small business is free of any misrepresentations.n audit report is an appraisal of a small businessâs complete financial status. Completed by an independent accounting professional, this document covers a companyâs assets and liabilities, and presents the auditorâs educated assessment of the firmâs financial position and future.
BREAKING DOWN 'Unqualified Audit'. An unqualified audit is essentially the opposite of an unaudited opinion, which gives an opinion without any actual research. Unqualified audits are performed according to accepted accounting principals, with an emphasis on detail and accuracy.If an audit cannot be classified as unqualified, then a qualified opinion is given instead that outlines the auditor's reservations concerning the organization's financial statements.n audit that has been performed and researched so thoroughly that the only possible remaining discrepancies stem from information that could not be obtained by the auditor. An unqualified audit analyzes both the internal systems of control, as well as all of the details in the organization's books.