Question

    In relation to auditing concepts, which of the following

    statements is INCORRECT? 
    A Auditing is an analytical and critical examination of books of accounts, financial records and the financial statements prepared thereon. Correct Answer Incorrect Answer
    B Auditing is done as per the principal set-in standards on auditing. Correct Answer Incorrect Answer
    C Auditing is the collection, classification and summarisation of data for preparation of books of accounts and to make financial statements. Correct Answer Incorrect Answer
    D Auditing reviews financial records to form an opinion on the authenticity of Financial Statements. Correct Answer Incorrect Answer

    Solution

    The correct answer is C

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