Assertion: audit | /r/CapableOf | provide reasonable assurance
Facets:
Source sentences:
text: The accounting and audit professions contend that an audit conducted in accordance with Generally Accepted Auditing Standards (GAAS) provides reasonable assurance, but not “absolute” assurance, that the assessed financial statements are free of material mis-statements.
text: In addition to indicating that the audit was conducted in accordance with applicable auditing standards, it emphasizes the fact that the audit provides only reasonable assurance that the financial statements contain no material misstatement.