What
is Reasonable Assurance?
Reasonable assurance means that a high degree of assurance,
but not absolute assurance, because due to inherent limitation of audit
absolute assurance is not possible.
What
are auditor responsibility, where reasonable assurance not possible?
In circumstances where reasonable assurance is not
possible auditor will adopt following course of actions
1. Express the
Qualified opinion ( where qualified opinion is sufficient)
2. Disclaim or Resign from
the assignment ,if resign is possible under circumstances (where qualified opinion
is not sufficient)
