Related Words

Qualified Opinion: An auditor's opinion expressing certain limitations of an audit.

Accountants Opinion: A signed statement from an independent public accountant after examination of a firm's records and accounts. The opinion may be unqualified or qualified. See: Qualified opinion.

Adverse Opinion: An independent auditor's opinion expressing that a firm's financial statements do not reflect the company's position accurately. See also: Qualified opinion.

Qualified Plan: A defined benefit or defined contribution pension plan covered by ERISA and IRS regulations qualifying for certain tax advantages for both the employer and the participant.

Qualified Plan Or Trust: A tax-deferred plan allowing employer and employee contributions that build up savings, which are paid out at retirement or on termination of employment. Tax is paid only when amounts are dr . . . View Full Definition

Qualified Intermediary: Corporation or entity who facilitates a 1031 tax deferred exchange (also known as an accommodator). To be a qualified intermediary, the intermediary must not be a related party.

Qualified Endorsement: A signature on the back of a negotiable instrument transferring the amount to some other party but that includes wording that limits the endorser's liability.

Qualified Retirement Plan: A qualified retirement plan is an employer sponsored plan that meets the requirements established by the Internal Revenue Service (IRS) and the US Congress. Pensions, profit-sharing plans, m . . . View Full Definition

Qualified Medical Child Support Order (QMCSO): An order, decree, judgment or administrative notice (including a settlement agreement) requiring health coverage for a child; issued by a domestic relations court or other court of competent . . . View Full Definition

Qualified Special Disabled Veteran: A special disabled veteran who satisfies the requisite skill, experience, education and other job-related requirements of the employment position such veteran holds or desires and who, with . . . View Full Definition