The auditor is not expected to, and cannot, reduce audit risk to zero and cannot therefore obtain absolute assurance that the financial statements are free from material misstatement due to fraud or error. Why? 5:22 PM
The auditor is not expected to, and cannot, reduce audit risk to zero and cannot therefore obtain absolute assurance that the financial statements are free from material misstatement due to fraud or error. Why? 5:22 PM
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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answer within 300-400 words

Transcribed Image Text:The auditor is not expected to, and cannot,
reduce audit risk to zero and cannot
therefore obtain absolute assurance that
the financial statements are free from
material misstatement due to fraud or error.
Why?
5:22 PM
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