Examine notes paid after year-end to determine whether they were included on the balance sheet - Obtain standard bank confirmation that includes specific reference to the existence of notes payable from all banks with which the client does business. Review the bank reconciliation for new notes credited directly to the bank account by the bank.

Answer rating: 100% (QA)

It is more important to search for unrecorded notes payable because notes payable are more likely to ... View the full answer