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Understanding the Audit Opinion database
Who is this article for?Users who want to learn about the Audit Opinion database.
No elevated permissions are required.
1. General overview
- The Audit Analytics Audit Opinion database monitors auditor reports on SEC registrants' financial statements since 2000.
- It is a key product of Audit Analytics.
- This encompasses all '33 and '34 Act filers as per SEC requirements.
2. Common uses
-
- Use audit opinions to assess financial reporting quality
- Include signing partner(s) and audit firms as per PCAOB Form AP
- Monitor “Going Concern” modifications indicating financial doubts
- Identify the signing office (domestic or foreign)
- Locate opinions not compliant with GAAP
- Benchmark clients by audit engagement partner
- Spot long auditor-client relationships
The Audit Opinions database is available online, through WRDS, and through data feeds [Feed 34] with the relevant subscription.
- Saved Search Alert: Yes
- Daily Summary Email: No
3. Collection methodology
- We primarily source audit opinions from Registration Statements and Annual Reports, but also review all filing types for a complete dataset.
- Our analysts manually gather opinion text, auditor details, accounting basis, signature dates, and fiscal year ends.
- We also collect any CAMS, going concern modifications, or note dates if available.
- The main audit opinions file includes only opinions on the registrant's financial statements.
- It excludes opinions on predecessors, subsidiaries, or pre-merger entities.
- Opinions for non-registrants are in a separate dataset.
- This is available as a supplement with a separate subscription.
- Our Form AP data aligns with the opinions in our database, matching based on 'Auditor', 'Auditor Location', 'Period End Date', and 'Signature Date(s)'. Unmatched items and all fund opinions are reviewed by our research team.
4. Searching
The Audit Opinion search page offers the following filters:
| Name | Description | Data Dictionary Field(s) | Sort By? |
|---|---|---|---|
| Filter by Auditor | Filter by opinions for a specific auditor or group of auditors | Auditor | Yes |
| Search by Ticker or CIK Code | Filter results to a specific population |
CIK Code Ticker |
Yes |
| Search by Keyword | Search for opinion containing keyword | N/A | No |
| Market Index | Filter by principal exchange | Market | No |
| Filer Status | Filter by filing status as disclosed historically by the registrant in the corresponding filing | Filer Status | No |
| Additional Opinion | Filters for records where there are additional opinions for the same period by the same auditor | Is Additional Opinion | No |
| Going Concern Opinion | Filters for records where the going concern assumption has been qualified by the auditor |
Going Concern
|
No |
| Filter by Going Concern Issues* | Filters for records that only include 1 or more going concern taxonomies |
Going Concern Issue Key List Going Concern Issue Phrase List |
No |
| Filter by Form Type | Filters by filing type | Source | No |
| Filter by Accounting Basis | Filter by which basis of accounting the registrant’ financial statements conform to | Accounting Basis | No |
| Fiscal Year | Filter by fiscal year end of opinion | Fiscal Year Ends (Currently Reported) | No |
| Market Cap | Filter by a range of companies’ market caps | Market Cap ($) | Yes |
| Revenue | Filter by a range of companies’ revenue | Revenue ($) | Yes |
| Audit Fees | Filter by a range of companies’ reported audit fees | Audit Fees ($) | Yes |
| CAMs Disclosed | Filter by a range for # of CAMs disclosed in opinion | Total CAMS in Opinion | No |
| Search Industries | Filter by companies’ industry(s) |
SIC Code NAICS Code |
No |
| Company Location | Filter by current business address location(s) |
State Name Region County |
Yes |
| Auditor Location | Filter by auditor location |
Auditor City Auditor State Code Auditor State Name Auditor State Region |
Yes |
| Fiscal Year Ended | Filter by a range of opinions to return on fiscal year ended date |
Month Ended (Ideal) Year Ended (Ideal) |
Yes |
| Signature Date | Filter by a range of opinions to return on auditor signature dates | Signature Date | Yes |
| File Date | Filter by a range of opinions to return on filing dates | Source Date | Yes |
5. Results
- View results at the bottom of the page.
- Access the following via hyperlinks:
- Download the Audit Opinions Data Dictionary
- CSV file downloads:
- Download Opinions or Form AP data
- All fields in the CSVs are defined in the Data Dictionary
- Company profiles overview
- Auditor profiles
- Filing type (opens opinion text for a specific entry)
- View all opinions on the company’s profile.
6. Additional information
- If you wish to merge the audit opinion and Form AP files, the ‘Audit Opinion Key’ variable links Form AP data to the corresponding opinion data.
Note: Opinion text is accessible via a Data Feeds subscription, WRDS access, or as a custom data request.