You have been assigned to the accounts payable transaction cycle as part of your auditing responsibilities. You have decided to vouch a sample of entries in the accounts payable master file to supporting documents. Which assertion is this test of controls most likely to support?
A) accuracy
B) classification
C) completeness
D) occurrence

Question

Quizplus · Accepted Answer

Vouching transactions in the accounts payable master file to supporting documents would test the occurrence assertion, as it would ensure that the recorded transactions actually occurred and were properly authorized and supported by documentation. Accuracy would be tested by verifying the mathematical accuracy of the recorded transactions, classification would be tested by ensuring that transactions were recorded in the correct accounts, and completeness would be tested by verifying that all transactions were recorded.

You Have Been Assigned to the Accounts Payable Transaction Cycle