identify the 2 audit procedures that may be performed on the specific audit objectives presented below.

Assertions Audit Objectives Audit Procedures

1. Existence orOccurrence To determine that payables exist as of the balance sheet date

2. Completeness To determine that all transaction relating to payables have been properly recorded

3. Rights and Obligation To determine that payables represent valid and legal claims of third parties from the client

4. Valuation or Allocation To determine that payables are recorded at the proper amount

5. Presentation and Disclosure To determine that payables are presented and disclosed according to PAS/PFRS