Does transport matter if using external DAC?

Can anyone confirm or dispute my theory that the transport does not affect the sound of a system if you're using an external DAC? The transport simply reads the ones and zeros and sends them to the DAC for processing. I know that there can be errors during the reading process, but all but the most severe are corrected by the DAC anyway. (The most severe result in pops or blanks.) Even if the DAC has to make a guess once in a while, I doubt that it could be discernable even by golden ears. If I'm missing something, please provide credible evidence. Also, can you refer me to an article on the subject or to an expert whom I can email?
Thanks!