The auditor is performing substantive tests of balances for accounts payable. What documentation would provide the best evidence for the ending balance?
A) Vendor Invoices
B) Vendor Statements
C) Receiving reports
D) Purchase orders

Question

Quizplus · Accepted Answer

Vendor statements provide the best evidence for the ending balance of accounts payable as they reflect the vendor's record of transactions and balances owed, which can be directly compared to the company's records.

The Auditor Is Performing Substantive Tests of Balances for Accounts