What is the concept of "Reasonable Assurance" and the degree of confidence that financial statements users should have in financial statements. What is your responsibility as an independent auditor in an audit of financial statements? Why auditors can be persuaded only with a reasonable level of assurance, rather than convinced, that the financial statements are correct? As an auditor, are you required to collect and retain evidence? Explain. How do you plan an audit to reach to a level of reasonable assurance? What is your understanding of materiality concept? Why does an auditor need to perform analytical analysis and of what? Explain and support