The audit procedure "Examine paid notes for cancellation to make sure they are not still outstanding" is performed when verifying the completeness objective for notes payable.

Question

Quizplus · Accepted Answer

This is a valid audit procedure for verifying the completeness objective for notes payable, as it ensures that all paid notes have been properly cancelled and are not still outstanding.

The Audit Procedure "Examine Paid Notes for Cancellation to Make