Glossary entry

Spanish term or phrase:

se traduce en la calificación de nuestra opinión

English translation:

we qualify our opinion

Added to glossary by María Perales
Apr 17, 2017 08:26
7 yrs ago
7 viewers *
Spanish term

se traduce en la calificación de nuestra opinión

Spanish to English Law/Patents Finance (general)
Aparece en el apartado de "Metodología de la auditoría - Muestreo" de un informe de auditoría.

La frase completa es la siguiente: "En caso de que el error total así obtenido se encuentre por encima del umbral de materialidad fijado en el 2%, se traduce en la calificación de nuestra opinión."

No entiendo qué quieren decir con esto... agradezco toda ayuda posible :-)
Proposed translations (English)
4 +6 we qualify our opinion

Discussion

Cristina Zavala Apr 17, 2017:
Please do not misunderstand what I have just stated in the Reference section. "Qualified opinion" is a standard term in audit reports. The phrase we should be looking at is "la calificación de nuestra opinión" and what that means. I agree with philgoddard's translation.
Toni Castano Apr 17, 2017:
@Wendy That´s precisely the point. The Spanish source doesn´t say anything like "calificación/dictamen/opinión con reservas o salvedades". If so, why then "qualified"? Do you see my point?
Wendy Streitparth Apr 17, 2017:
@ Toni: qualified opinion is a standard term (see Cristina's first reference).
Toni Castano Apr 17, 2017:
There´s nothing wrong with the Spanish Wendy is close to the actual meaning (but I would remove "qualified"). The Spanish is certainly no masterpiece of drafting, but it is comprehensible. The phrase would be easier to understand this way though:
ello se traduce [se traduciría/se traducirá] en la calificación de nuestra opinión."

I think the problem resides here in the correct rendering of “se traduce”, which means “is reflected”. As per "calificación", it means "rating" or "grade". And "opinión" is "assessment".
Robert Carter Apr 17, 2017:
Actually Wendy, the Spanish is badly worded. It should simply say they cannot guarantee the accuracy of the opinion if the error rate is more than 2%. That in itself is a qualification.
Wendy Streitparth Apr 17, 2017:
@ Phil: Just nit-picking. Depending on how you translate the first half of the sentence, I would say: this will result in our issuing a qualified opinion.

Proposed translations

+6
1 hr
Selected

we qualify our opinion

In other words, the outcome of the audit is less than fully satisfactory.

"A qualified opinion is a statement issued after an audit is done by a professional auditor that suggests the information provided was limited in scope and/or the company being audited has not maintained GAAP accounting principles."
Peer comment(s):

agree AllegroTrans
1 hr
agree Patricia Fierro, M. Sc.
2 hrs
agree Cristina Zavala
2 hrs
agree patinba
4 hrs
agree Robert Carter : You skipped a tricky part here ("se traduce en"), but you got the important part right.
5 hrs
I didn't skip it. I'd say something like "If an issue is material, ie it exceeds the 2% margin of error, we will qualify our opinion."
agree neilmac : I had to read the Spanish again about five times, but it looks like you got the handle on it...
23 hrs
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4 KudoZ points awarded for this answer. Comment: "¡Gracias!"

Reference comments

11 hrs
Reference:

Qualified Opinion

Please see this link
http://www.investopedia.com/terms/q/qualifiedopinion.asp
What is a 'Qualified Opinion'
A qualified opinion is a statement issued after an audit is done by a professional auditor that suggests the information provided was limited in scope and/or the company being audited has not maintained GAAP accounting principles. Auditors who deem audits as qualified opinions are advising whomever is reading the document the information within the audit is not complete or the accounting methods used by the company do not follow GAAP.

http://accounting.smartpros.com/Resource-Library/Glossary-of...
An auditor can qualify the audit opinion for both departures from U.S. GAAP in the financial statements and restrictions on the scope of the audit. The opinion paragraph of the qualified report is worded "In our opinion, except for..."

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Note added at 11 hrs (2017-04-17 20:04:33 GMT)
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"... se traduce en la calificación de nuestra opinión" es una traducción literal de "is reflected in our qualified opinion". En español correcto sería "opinión con reservas / opinión con observaciones, o algo similar.
Peer comments on this reference comment:

agree AllegroTrans
1 day 1 hr
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