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What are the inherent limitations of an audit?What are the inherent limitations of an...

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Accounting

What are the inherent limitations of an audit?

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Answer Audit system is aimed at finding out if financial statements are presenting true and fair view of business thereby they do not disclose anything which is not correct as well financial statement do not conceal or hide any material fact about business It is important to note that sometimes auditors are not able to make audit report which is 100 error free because audit system has certain inherent limitation because of which audit sometimes not able to    See Answer
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In: AccountingWhat are the inherent limitations of an audit?What are the inherent limitations of an audit?

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