Examining company policies is an example of an audit procedure in auditing accrued liabilities.

Question

Quizplus · Accepted Answer

Auditing accrued liabilities involves reviewing the company's financial statements, examining supporting documents, and testing the accuracy of recorded amounts. Examining company policies related to the recognition and measurement of accrued liabilities is a necessary audit procedure to ensure compliance with accounting standards and identify any potential misstatements or errors.

Examining Company Policies Is an Example of an Audit Procedure