Auditors are just there to provide a reasonable basis saying to their knowledge, there hasn’t been any significant misstatement.
No guarantees.
No warranties.
Also possibly lots of minor misstatements here and there that are usually insignificant.
That is all, and it’s the same everywhere around the world. Unless you’ve been an auditor, you wouldn’t understand how tough it is to juggle between winning contracts AND trying to be impartial and independent at the same time.
Legal actions against VGI Partners, page-26
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