KASNEB CA24 Practice Questions - KASNEB Certified Public Accountants (CPA) Intermediate - Auditing And Assurance (CA24) Exam

Under ISA 200, reasonable assurance is a HIGH level of assurance but is NOT absolute because:

Auditors are prohibited from testing any internal controls All audit evidence must be obtained only through external confirmation Inherent limitations exist, including the use of judgment, sampling, and the possibility of management override of controls Materiality is set at zero for every audit engagement

Correct Answer:

Inherent limitations exist, including the use of judgment, sampling, and the possibility of management override of controls

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