An audit opinion is a guarantee that the business is a going concern.

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An audit opinion is not a guarantee that the business is a going concern. It is an independent auditor's professional judgement based on the audit evidence obtained. If the auditor concludes that the business may not continue as a going concern, it would be mentioned in the audit report. However, this does not necessarily mean that the business will definitely fail or that it is not currently a going concern.

An Audit Opinion Is a Guarantee That the Business Is