You are part of the audit team for XYZ Co. and one of your fellow audit associates suddenly needed to take time off due to a family emergency. You are taking over the audit of AP and noted the following:

 

-AP balance is $123,000 for the audit year. Last year's AP balance was $321,000.

-The audit associate has documented that because of the decrease in the AP balance, and because the current year balance is under materiality, only limited work is required.

-The audit associate has selected a sample of payables from the supplier GL and vouched the amounts to the suppliers' statements.

 

Comment on the adequacy of the audit work performed thus far on accounts payable.

What other procedures should you perform?