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Reasonable assurance, per SA 200, is:
AA high but not absolute level of assurance, expressed positively in the auditor's opinion
BAbsolute certainty
CLimited assurance
DNo assurance at all
Answer & Solution
Correct answer: A. A high but not absolute level of assurance, expressed positively in the auditor's opinion
1. SA 200 defines reasonable assurance as high but not absolute.
2. It is expressed positively (e.g. "give a true and fair view").
3. Limited assurance is for reviews (SRE 2400/2410); absolute is unattainable.
_Source: ICAI BoS CA Final Paper 3, Ch 6 "Standards on Auditing and Professional Ethics"_
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