A Typical Engagement Letter Should Contain the Following Comment: Because

A typical engagement letter should contain the following comment: Because of the concept of reasonable assurance and because we will not perform a detailed examination of all transactions, there is a risk that:

A) we will detect only material errors."
B) we cannot detect such acts that arise from collusion or direct actions on the part of upper management."
C) material errors, fraud, or other illegal acts, may exist and not be detected by us."
D) we cannot be relied upon to detect these items. We will, however, be available for special fraud-audit engagements."
E) we will probably detect all material irregularities."