PQR Limited is a small client with few transactions meaning that, while sampling is an option,...
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PQR Limited is a small client with few transactions meaning that, while sampling is an option, it is possible to test 100% of all transactions should you as the auditor wish to do so. The shareholders of PQR Limited have asked that you provide absolute assurance on the financial report of the company and are happy to pay whatever it costs. Required Briefly explain why it is not possible for you to provide absolute assurance on the financial report of PQR Limited. PQR Limited is a small client with few transactions meaning that, while sampling is an option, it is possible to test 100% of all transactions should you as the auditor wish to do so. The shareholders of PQR Limited have asked that you provide absolute assurance on the financial report of the company and are happy to pay whatever it costs. Required Briefly explain why it is not possible for you to provide absolute assurance on the financial report of PQR Limited.
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Answer As per SA 200 The exercise of due professional care allows the auditor to obtain rea... View the full answer
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