ULULIIT ILLU. . In a financial statement audit, the auditor obtains a reasonable level of assurance about whether the financial statements are free of material misstatement in order to express an opinion. In order to obtain reasonable assurance, the auditor must 1. have prior experience in the industry in which the audit client operates. 2. examine all documents available that support the financial statements. 3. obtain sufficient audit evidence. 4. test controls around significant transaction cycles