Auditors do not provide absolute assurance in an audit due to
A) Financial statement numbers are based on estimates.
B) Auditors usually examine a sample rather than all of a company's transactions.
C) Those who commit fraud go to great lengths to conceal their actions.
D) All of the above.

Question

Quizplus · Accepted Answer

All of these options contribute to the fact that auditors cannot provide absolute assurance in an audit. Financial statement numbers are based on estimates, meaning there is always some level of uncertainty. Additionally, auditors usually examine a sample of transactions rather than every single one, which could lead to missing important information. Finally, those committing fraud often go to great lengths to conceal their actions, making it difficult for auditors to detect the fraud.

Auditors Do Not Provide Absolute Assurance in an Audit Due