The trade payables figure in most companies is normally material in the context of the financial statements
Question:
The trade payables figure in most companies is normally material in the context of the financial statements taken as a whole. What assertions do you think that management is implicitly making about the trade payables figure? Suggest one audit step for each assertion which you might take to prove that the assertion is valid.
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Management implicitly makes several assertions about the trade payables figure in the financial stat...View the full answer
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Related Book For 
The Audit Process Principles Practice And Cases
ISBN: 9781473760189
7th Edition
Authors: Iain Gray, Louise Crawford, Stuart Manson
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