In the wake of the crisis of representation, the qualitative approaches have gained momentum within the social sciences. This crisis has lead to a widespread awareness about the need to incorporate the subject's understanding in the research design. Yet, the validity of qualitative accounts is still regarded as a function of its representative accuracy. This, and not its meaningfulness, remains the qualifying property to judge its value. I argue that this can only be overcome by a retreat from realist ontology. The challenge that emerges is how to build an understanding of qualitative research, which is not referential but retains its "worldly involvement". This can be achieved by reversing the logical order: the value of the researcher's reconstruction does not reside in its representational accuracy "of" reality, but in the value, it has "for our comprehension of" reality. Thus, a place can be found for the active role of the researcher and the reader in the actualisation of meaning.