The analytical procedure that requires the auditor to review the list of accounts payable for unusual or non-vendor payables would have the best chance of discovering which possible error?
A) classification error for non-trade liabilities
B) invalid accounts or misstatements
C) unrecorded accounts or misstatements
D) misstatement of accounts payable and expenses

Question

Quizplus · Accepted Answer

This procedure is aimed at identifying classification errors, such as non-trade liabilities being incorrectly classified as accounts payable, by reviewing for unusual or non-vendor payables.

The Analytical Procedure That Requires the Auditor to Review the List