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Term: Accounting -> Reasonable assurance (in audit report)
Term:

Reasonable assurance (in audit report)

Definition:

An auditor works within economic limits. The audit opinion, to be economically useful, must be formed in a reasonable time and at reasonable cost. The auditor must decide, exercising professional judgment, whether evidence available within limits of time and cost is sufficient to justify an opinion.

Related terms:

Reference Code

Debit memo
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