Take the following as truth: The auditing standards issued by the United Kingdom's Audit Practices Board require NAO to plan and perform its audits to provide for reasonable assurance that the financial statements are free from material misstatement, whether caused by error, or by fraud or other irregularity.
Then the following statement: "The audits provide assurance that the financial statements are free of fraud." is true, false, or inconclusive?
Answer: True