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nisha nisha
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2 weeks ago
Discuss three reasons why auditors are responsible for "reasonable" but not "absolute" assurance.
Textbook 

Sociology: Compass for a New Social World


Edition: 7th
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carolyne254carolyne254
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More questions for this book are available here
Most audit evidence results from testing a sample of a population. Sampling involves some risk of not uncovering material misstatements.
Accounting presentations contain complex estimates, which inherently involve uncertainty and can be affected by future events. As a result, the auditor has to rely on evidence that is persuasive but not convincing.
Fraudulently prepared financial statements are often very difficult for the auditor to detect, especially when there is collusion among management.

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