Glossary
Q
Qualified Audit Opinion
A qualified audit opinion is an audit opinion to the effect that the accounts do not show a true and fair view of the company’s financial position at that time.
Qualifying Floating Charge
A qualifying floating charge is a floating charge which enables the holder to appoint an administrator or administrative receiver under the Insolvency Act 1986 without the need for an order of the court.
Qualifying Floating Charge Holder (QFC)
A qualifying floating charge holder is an individual or institution (such as a bank) that has a floating charge. They are able to appoint an administrator or administrative receiver under the Insolvency Act 1986 without the need for an order of the court, if the conditions for this are met.
