Pointless whinging...., page-20

Auditors do not see things in colour, what they see is either black or white, there is no grey or rose tint.
The numbers provided by the company indicate a particular risk at a particular time and they have published what they see that risk may mean for the company in that time frame.
It is up to the reader of the report and the auditor's assessment to interpret both. The reader can either accept the auditor's assessment in full or they can tint it in what ever colour they like. It very much depends upon the reader's own level of risk acceptance in their investment decisions. It is not about covering butts, if it was why audit anything, just take as fact everything a board tells its shareholders.
It is about who and what you believe and the inherent risk that may or may not occur if certain events are achieved or not for this company in particular.