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Sagot :
It is implied that there is a low level of risk remaining that auditors express an opinion that the financial statements are properly stated when they are not by the concept of reasonable assurance.
Reasonable assurance is the high level of assurance that is regarding to the material misstatements, but it is not an absolute one.
Reasonable assurance includes the understanding of the concept that there is a remote likelihood which the material misstatements will not be prevented or it can be detected on a timely basis.
To achieve reasonable assurance, the auditor is also required to obtain sufficient appropriate audit evidence in order to reduce audit risk to an acceptably low level.
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