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13-25 6 For each procedure, identify the relevant assertions for account balances. begin{tabular}{|l} hline AUDIT PROCEDURE hline Obtain a list of accounts payable. Re-add
13-25 6 For each procedure, identify the relevant assertions for account balances. \begin{tabular}{|l} \hline AUDIT PROCEDURE \\ \hline Obtain a list of accounts payable. Re-add and compare with the general ledger. \\ \hline Trace from the general ledger trial balance and supporting documentation to \\ determine whether accounts payable, related parties, and other related \\ assets and liabilities are properly included on the financial statements. \\ \hline For liabilities that are payable in a foreign currency, determine the exchange rate and check calculations. \\ \hline Discuss with the bookkeeper whether any amounts included on the accounts payable list are due to related parties, debit balances, or notes payable. \\ \hline Obtain vendors' statements from the controller and reconcile them to the listing of accounts payable. \\ \hline Obtain vendors' statements directly from vendors and reconcile them to the listing of accounts payable. \\ \hline Examine supporting documents for cash disbursements several days before and after year-end. \\ \hline period, looking for large or unusual transactions. \\ \hline \end{tabular}
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