disclaimer
A statement by an accountant that the accountant did not perform the requisite
audit work required to form an opinion as to the correctness of the financial
statements or of the organization's financial condition. (Disclaimers are most
often issued when an accountant is not provided with sufficient supporting information
during an audit.) If an accountant issues a disclaimer in conjunction with an
audit, investors, lenders, or other individuals reviewing the organization's
financial statements should recognize that the information contained within
such materials cannot be relied upon as accurate.
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PLI III.G