Examine supporting documents for cash disbursements after year end to determine whether they should be included in the year-end list of accounts payable.
The following are various audit procedures per- formed in the audit of the acquisition and payment cycle and accounts payable: 1. Foot the acquisitions journal for the month of August and trace postings to general ledger and accounts payable master file. 2. Determine that the amount of purchases from major customers is properly disclosed in […]