Statements 6 A(n) opinion is an opinion that the financial statements of a public company fairly present financial position, results of operations, and cash flows, in conformity with generally accepted accounting principles. If the auditors have examined the prior year's financial statements presented for comparative purposes, they should their opinion for any new information. When a nonpublic client elects to change accounting principles from one acceptable principle to another 3. acceptable principle and the auditors agree the change is desirable, they should issue a report with a(n) opinion. All nonpublic company audit reports that are qualified should contain a(n) the qualification. explaining the details of When financial statements contain a material departure from generally accepted accounting principles, the opinion depending on the materiality of the auditors qualify their opinion, or they issue a(n) departure