What is opinion?
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What Does opinion Mean
From the Latin opinion , an opinion is a judgment developed or communicated regarding some question. The term is not used too frequently in everyday language, but is more associated with the judicial or legislative sphere.
The opinion, therefore, can be a judicial sentence pronounced by a court or a judge . In this way, a cause or a lawsuit is terminated. What the opinion does is recognize the right of one of the parties in the process, establishing the obligation to the other party to accept the resolution and respect it.
In the case of criminal law , the opinion establishes the conviction or provides acquittal to the accused. If he is found guilty, the ruling establishes the appropriate punishment as defined by law .
The opinion, therefore, can be convicting (the judge accepts the claims of the person who sued) or acquittal (the judge agrees with the accused). Another classification speaks of a firm opinion (it does not accept the filing of appeals) and an actionable opinion (the filing of appeals is possible).
For example: "This afternoon the opinion of the case that shocked the country and that could lead the businessman to prison will be known" , "After hearing the opinion, the relatives of the victim unleashed their fury and exploded against the court" , "The opinion it conformed both parties ” .
In the legislative sphere, an opinion is a document studied, discussed, voted on and accepted by the majority of the members of a commission. It is, therefore, a constitutive legislative act that certifies compliance with a procedural requirement.
Types of Audit Opinion
In turn, if the concept is analyzed in financial terms, it can refer to the opinion or judgment that an auditor makes when conducting an External Audit . This opinion can be of four different types:
* Opinion without qualifications : It is given when the result of the Balance Sheet, the Statements of Change and Income are considered correct or reasonable by the auditor; that is, they comply with the provisions of accounting principles.
* Opinion with reservations : At the end of his work, the auditor discovers that although the balance sheets have returned a reasonable result, there are some threads that reveal a possible loss or qualification in the actions carried out by the company .
* Adverse opinion : When the balance sheets do not return a reasonable result or the fundamental principles of accounting have not been met, this type of opinion takes place. In it, the External Auditor explains what the irregularities are and offers possible solutions to them.
* Opinion with abstention of opinion : It occurs when the Auditor is restricted by the company to investigate certain aspects that could help to solve the inconveniences or irregularities that he may have noticed in the balance sheet result. By not having access to the important details of the transactions, the auditor must opt for an impartial decision.
It is important to note that an audit consists of the examination, based on clear evidence that emerges from each of the financial actions carried out by the company, of the financial statements of a company.
At the end of the study of these actions, the External Auditor must offer a document that reflects the results of his investigation, they have legal validity and can serve the company to present as evidence in a trial or any other legislative action.
It should be explained that an External Auditor is a professional or office of specialists in economics who is in charge of reviewing the performance of a company according to what appears in its records. They can be hired for different reasons, but they are generally consulted to obtain a certificate that proves the veracity of the figures that are reflected in their various accounting books. The Auditor must be someone outside the company so that his gaze is impartial and does not get carried away by favoritism or personal interests.