Further possible misstatements are those that could exist over and above the total of known and likely misstatements because of the fundamental limitations of auditing.

Question

Quizplus · Accepted Answer

Auditing has inherent limitations and it is possible that there may be misstatements that the auditor is unable to detect or uncover, leading to potential misstatements beyond what is already known or likely.

Further Possible Misstatements Are Those That Could Exist Over and Above