An auditor has been assigned to audit the accounts payable of a high-risk audit client. Control risk

Question:

An auditor has been assigned to audit the of a high-risk audit client. Control risk is assessed as high, management integrity is marginal, and the company is near violation of important loan covenants, particularly one that requires the maintenance of a minimum working-capital ratio. Explain how the auditor should approach the year-end audit of Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...