In an examination of vendor statements or vendor confirmations when doing substantive tests of balances the auditor needs to perform the following:
A) reconciliation with the accounts payable master file.
B) reconciliation with vendor invoices.
C) reconciliation with purchase orders.
D) reconciliation with receiving reports.

Question

Quizplus · Accepted Answer

The auditor should reconcile vendor statements or confirmations with the accounts payable master file to ensure that recorded liabilities are complete and accurate.

In an Examination of Vendor Statements or Vendor Confirmations When