Michele Teper is planning her audit for accounts payable.  In the prior -year audit, Michele had decided to mail 30 confirmations to Foot Fault suppliers. This represented approximately 10% of all the suppliers.

Required:

(a)  In order to determine the appropriate audit procedures for Foot Fault with respect to ensuring all accounts payable are included in the account balance, identify (three) appropriate audit objectives.

(b)  With respect to the use of confirmation for accounts payable, discuss whether there is a requirement to use confirmations in this situation.  What could Michele

as an alternative to the use of Confirmations?

(c)  If your answer to  is no, identify 5 (five) situations where Michele could use Confirmations

Answer rating: 100% (QA)

a Three appropriate audit objectives for Foot Faults accounts payable include Completeness To ensure that all accounts payable transactions are record... View the full answer