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.
B Auditing is done as per the principal set-in standards on auditing.
C Auditing is the collection, classification and summarisation of data for preparation of books of accounts and to make financial statements.
D Auditing reviews financial records to form an opinion on the authenticity of Financial Statements.
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