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Explain the differences between the audit approach for accounts receivable (our topic last week) and accounts payable. In your explanation, please address the following; the
Explain the differences between the audit approach for accounts receivable (our topic last week) and accounts payable. In your explanation, please address the following; the auditors main concern with each area (overstatement or understatement), the most relevant assertion (one assertion that you determine to be the most relevant for each area), how confirmations are handled for each area and if they are required by auditing standards
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