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Author Question: When dealing with fraudulent financial reporting risk for accounts payable, (Read 50 times)

Dannyrod2

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When dealing with fraudulent financial reporting risk for accounts payable,
◦ companies will generally tend to overstate accounts payable.
◦ it is difficult for the auditor to verify if all liabilities have been recorded if prenumbered receiving reports are used.
◦ companies have used fictitious reductions to accounts payable to overstate net income.
◦ accounts payable is rarely a significant risk area for fraudulent financial reporting.


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Marked as best answer by Dannyrod2 on Aug 21, 2022

Sha

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Dannyrod2

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Reply 2 on: Aug 21, 2022
YES! Correct, THANKS for helping me on my review


zacnyjessica

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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