Question
An auditor is likely to perform each of the below procedures to obtain evidence regarding the potential understatement of accounts payable (i.e., the Completeness assertion)
An auditor is likely to perform each of the below procedures to obtain evidence regarding the potential understatement of accounts payable (i.e., the Completeness assertion) except
Inspect purchase orders and receiving reports for accounts payable recorded as of the balance sheet date. | |
| Inspect the open invoice file for invoices to be paid subsequent to year-end. |
| Analyze cash disbursements made during the first few weeks of the subsequent year and inspect supporting documentation for each disbursement. |
| None of the options describe procedures that can be used to identify a potential understatement of accounts payable. |
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