Which of the following statements is not true? | Faculties

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Mr. Dubey

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📊 Auditing

Q. Which of the following statements is not true?

(A) Valuation of assets is the responsibility of management
(B) The auditor can rely on a certificate issued by an authorized valuationer as to the valuation of assets in the balance sheet
(C) The auditor should value the asset as per generally accepted accounting principle
(D) Valuation is no part of auditor’s duty

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✅ Correct Answer: (C) The auditor should value the asset as per generally accepted accounting principle

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