Reasonable Assurance

The concept that internal control, no matter how well designed and operated, cannot guarantee that an entity’s objectives will be met. This is because of Inherent Limitations in all internal control systems.

Source : COSO Integrated Internal Controls Framework

The concept that enterprise risk management, no matter how well designed and operated, cannot provide a guarantee regarding achievement of an entity’s objectives. This is because of Inherent Limitations in enterprise risk management.

Source : COSO Integrated Risk Management Framework