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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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