Q80
Which of the following statements is not true?
A.
Valuation of assets is the responsibility of the 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
AnswerD.
Valuation is no part of auditor's duty
Answer: Option C
Solution
Answer: Option C
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