金融作业代做 Accounts Payable and Unrecorded Liabilities

Accounts Payable and Unrecorded Liabilities

金融作业代做 Prepare a substantive audit program for Accounts Payable Balances and Unrecorded Liabilities. The construction of such a program

Required:  金融作业代做

1. Analyze the control procedures (strengths) related to accounts payable processing. For each control procedure, describe a test of controls you could perform to test the operating effectiveness of the control.

2. For each weakness you find, list the weakness, a possible error or irregularity that may occur because of the weakness, and a compensating substantive test of transactions or balances to detect the error or irregularity, assuming the necessary records and documents are available to you.

3. Prepare a substantive audit program for Accounts Payable Balances and Unrecorded Liabilities. The construction of such a program should begin with the financial statement assertions.  Your audit program should address the financial statement assertions, as well as any weaknesses you have uncovered in the internal control structure.

4. Discuss possible unrecorded liabilities that can be found in a bank confirmation.

5. Discuss the main differences between accounts receivable and accounts payable confirmations.

Additional questions for Groups with more than 4 members:

6. Discuss the following:

• Key segregation of duties in the purchasing process.


• Errors or fraud that can occur if such duties are not segregated.

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