You are an audit senior at Smith and Jones Pty. Ltd and your subordinate staff have completed the testing of accounts payable. When reviewing the file you notice that the junior has focused on accuracy of transactions and disclosure assertions. As the balance of accounts payable is less than half the previous year it was not checked due to it being immaterial.

Required:

A)Identify what other assertions you feel should be tested and why

B)Describe some additional audit procedures you believe should be carried out to ensure the balance is fairly stated