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In older literature about audits, you will find the auditors’ reports called “certifications.” Auditors insist, however,...

In older literature about audits, you will find the auditors’ reports called “certifications.” Auditors insist, however, that their reports are opinions that provide “reasonable assurance,” not certifications. Why do you think this distinction is important?

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Answer Yes, this distinction between certificate and opinions is very important because An Auditor gives his opinion on financial statements that they showing true and fair positions of that organization or not. Auditor gives this opinion in a audit report. Auditor not gives certificate on financial statement for his audit work. Because certificate is an official document that states that the information on it is true and correct. In case of wrong certificate, the auditor will be held responsible. As a report is merely an opinion, if it is not correct, the auditor may not be held responsible.

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