Term · Accounting & Data Quality
Testat (Auditor's Opinion)
In briefThe Testat is the auditor's opinion that confirms the propriety of an audited annual financial statement. It is a first mandatory check - does a current report exist, and does the opinion contain a going-concern note?
Definition
The auditor's opinion confirming the propriety of audited financial statements.
How it is calculated
Formula. Not a metric - a formal audit opinion.
Why it matters for small caps
The first mandatory check in Step 1 (does a current report exist) and in Step 2 (going-concern note in the auditor's opinion).
Common misreadings
- An 'unqualified opinion' is misunderstood as a full guarantee of the accuracy of all information, although it only confirms the propriety of the accounting.
In the process
Frequently asked
What is a Testat (auditor's opinion)?
It is the auditor's formal audit opinion on financial statements. It confirms whether the accounting has been carried out properly.
What is the auditor's opinion used for in analysis?
You check whether a current report exists and what kind of opinion it contains. A qualified opinion or one supplemented with notes deserves particular attention.
Is an unqualified opinion a guarantee of accuracy?
No, it only confirms the propriety of the accounting. It is no warranty for the full accuracy of all information.
Related terms
Sources
Primary
IFAC/IAASB – International Auditing and Assurance Standards
https://www.ifac.org/e-international-standards
https://www.ifac.org/e-international-standards
Methodology
Bundesministerium der Justiz – Handelsgesetzbuch (HGB)
https://www.gesetze-im-internet.de/hgb/
https://www.gesetze-im-internet.de/hgb/
Education only, not investment advice. Ranges and thresholds are didactic orientation values, not an official standard.