In auditing accounts payable, an auditor's procedures most likely would focus primarily on management's assertion of:
A)existence.
B)rights and obligations.
C)completeness.
D)occurrence.

Question

Quizplus · Accepted Answer

In auditing accounts payable, the main focus of an auditor's procedures is to ensure completeness, meaning that all valid payables have been recorded and included in the financial statements. This assertion relates to whether all transactions have been recorded and reflected in the financial statements of the company. Therefore, the correct choice is completeness.

In Auditing Accounts Payable, an Auditor's Procedures Most Likely Would