The auditor has decided to use accounts payables confirmations when testing substantive testing for balances.Which two management assertions is she testing?
A)Existence and completeness
B)Existence and occurrence
C)Existence only
D)Completeness only

Question

Quizplus · Accepted Answer

Accounts payable confirmations test both the existence of liabilities (to ensure recorded payables are real) and completeness (to ensure all liabilities are recorded).

The Auditor Has Decided to Use Accounts Payables Confirmations When