Auditor$-$client$-$public relationship and the expectation gap

$1\mathrm{.}22$ EASY Lindsay Baines is a potential investor in Seascape Ltd $($Seascape$),$ a large manufacturing

company. Lindsay has reviewed Seascape's $2018$ audited financial report and believes that the auditor's

report provides absolute assurance that there are no material misstatements in the financial report.

REQUIRED

Advise Lindsay as to whether this is a reasonable expectation, explaining the reasons for your

opinion.