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Hello sir,
I couldn’t understand what does this line means, this is last line of page 3 of acca f8 notes of opentuition. How can a practitioner’s work be limited, what does this means?
Please explain this to me.in essence, it means that there is only so much depth that the auditor can get to (only so much work/checking/testing that an auditor can do on the entity) – this is why the end result is always an opinion “i.e. we BELIEVE that the accounts are a true and fair reflection……
You mean to say that due to too much depth it takes too much time to check everything and is not practically possible. Therefore 100% confirmation can not be given and THIS IS THE LIMITATION??
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