As part of accounts payable testing, an auditor reviews cash payments made post balance date.This is done mainly to gain evidence about which assertion?
A)Valuation and allocation.
B)Rights and obligations.
C)Completeness.
D)Existence.

Question

Quizplus · Accepted Answer

Reviewing cash payments made post balance date helps the auditor ensure that all liabilities that existed at the balance date are recorded, which relates to the completeness assertion. This process helps in verifying that all obligations of the company as of the balance sheet date are accounted for in the financial statements.

As Part of Accounts Payable Testing, an Auditor Reviews Cash