The analytical procedure that requires the auditor to "inspect the list of accounts payable for unusual or non-vendor payables" would have the best chance of discovering which possible error?
A)misstatement of accounts payable and expenses
B)classification error for non-trade liabilities
C)unrecorded accounts or misstatements
D)invalid accounts or misstatements

Question

Quizplus · Accepted Answer

This procedure is specifically designed to identify payables that do not belong to regular trade vendors, which could indicate a classification error for non-trade liabilities.

The Analytical Procedure That Requires the Auditor to "Inspect the List