What is the overall objective in the audit of accounts payable?
A) to determine if the balance accurately stated
B) to determine if the balance is understated
C) to determine if the balance is fairly stated and properly disclosed
D) to determine if the balance is overstated

Question

Quizplus · Accepted Answer

The overall objective in the audit of accounts payable is to determine if the balance is fairly stated and properly disclosed. The auditor needs to ensure that the accounts payable balance is recorded accurately and that all relevant disclosures are made consistent with applicable accounting standards. The auditor also needs to verify that all accounts payable recorded represent valid and accurate obligations of the entity.

What Is the Overall Objective in the Audit of Accounts