Source: State Auditors
Latest Data: 2024

An audit report is an independent review of an entity's financial records by a CPA firm. In this data series we show the auditor opinions given for state financial reports (ACFRs). The auditor may assign the following categories to their opinion of the audit.

• A ‘clean’ or ‘unqualified’ opinion arises if the auditor believes the statements fairly and accurately present the financial position, in accordance with generally accepted accounting principles. That opinion is disignated by a 25.
• A ‘qualified’ opinion is the next step down, which may note exceptions to the overall ‘fair presentation,’ which can include the scope of the audit. This auditor opinion is designated by a 10.
• A ‘disclaimer’ of opinion arises if the auditor simply refuses to provide an opinion, given limitations on the scope of the audit, or if significant material weaknesses in the internal controls and reporting material mean that an opinion can’t be delivered.  This opinion is designated by a -10.