Internal control follows the concept of reasonable assurance. Pete Simmons, the chief compliance officer of Salem Company, stated that he does not want simply reasonable assurance. He wants absolute assurance in all aspects that apply to the financial statements of the company. Specifically, Pete stated, "As long as I am working here, we will run a perfectly tight system that ensures absolutely no fraud in our financial statements." Betty Flint, the controller, disagreed with Pete and argued that anything more than reasonable assurance is both financially and practically impossible.

Required 

Do you agree with Pete or Betty, and why?