Auditors provide reasonable assurance that the financial statements are fairly stated in accordance with the...
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Accounting
Auditors provide reasonable assurance that the financial statements are fairly stated in accordance with the established and applicable criteria, either GAAP or IFRS. However, the responsibility of the auditors is to detect material misstatements, including misappropriation of assets and fraudulent financial reporting. Required:
Discuss why the auditor can be persuaded only with a reasonable level of assurance, rather than absolute that the financial statements are correct?
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