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In order to substantively test the details of the balance of accounts payable for completeness, the audit team downloads a verified listing of payments made
In order to substantively test the details of the balance of accounts payable for completeness, the audit team downloads a verified listing of payments made to vendors after year end and compares it to vendor balances recorded in payables at year end. This is the best example of:
Vouching payables to transactions
A confirmation of payables
A search for unrecorded liabilities
Physical inspection of payables
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