Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall

Exercise 35

Interpret auditors’ opinion It is impossible for an auditor to “guarantee” that a company’s financial statements are free of all error because the cost to the company to achieve absolute accuracy (even if that were possible) and the cost of the auditor’s verification would be prohibitively expensive. How does the auditors’ opinion recognize this absence of absolute accuracy?