If any CA gives opinion that company's financial statement is not showing correct on the basis of GAAP. So, it is unreliable. This opinion is a red alert for investors who are trusting on auditor's report. This adverse opinion will be at the end of auditor's report. Following is its example
In our opinion, the financial statements referred to above do not present fairly, in all material respects because consolidated balance sheet has not been made according to GAAP. All past records have been stolen by past management. So, we are trusting on current management and its given financial statements which has been made on their estimations but still there are many material misstatements in these.
Auditor’s name and address