Which assertion has the greatest emphasis when auditing accounts payable?
A) Existence.
B) Completeness.
C) Presentation.
D) Disclosure.

Question

Quizplus · Accepted Answer

The greatest emphasis when auditing accounts payable is on completeness, which requires ensuring that all payable transactions are recorded in the financial statements. This involves verifying that all vendor invoices have been recorded and that no transactions have been omitted.

Which Assertion Has the Greatest Emphasis When Auditing Accounts Payable