Audit reports contain the phrase obtain reasonable assurance, which is intended to inform users that auditors do not guarantee or ensure the fair presentation of the financial statements which the audit reports cover.

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This is a standard disclaimer included in audit reports to clarify the limited scope and nature of auditing. Auditors can only provide reasonable assurance that the financial statements are free from material misstatements, but they cannot guarantee or ensure complete accuracy or fairness.

Audit Reports Contain the Phrase Obtain Reasonable Assurance, Which Is