Which assertion has the greatest emphasis when auditing accounts payable?
A)Existence.
B)Completeness.
C)Presentation.
D)Obligations.

Question

Quizplus · Accepted Answer

When auditing accounts payable, the auditor's main focus is to ensure that all liabilities and expenses have been recorded, which means all outstanding invoices and bills have been included in the accounts payable balance. This emphasizes the completeness assertion as it is crucial to ensure that all obligations are included in the accounts.

Which Assertion Has the Greatest Emphasis When Auditing Accounts Payable