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Author Question: When auditors examine vendors' statements or receive confirmations, there must be a reconciliation ... (Read 42 times)

connormoss

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Question 1

Vendors' statements and vendors' invoices are both relatively reliable evidence because they
◦ come directly to the auditor without being in client's possession.
◦ originate from a third party.
◦ validate the effectiveness of the control system.
◦ are compared to and reconciled with sales invoices.

Question 2

When auditors examine vendors' statements or receive confirmations, there must be a reconciliation of the statement or confirmation with the
◦ accounts payable list.
◦ vendors' invoices.
◦ purchase orders.
◦ receiving reports.


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Marked as best answer by connormoss on Aug 21, 2022

msgero

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connormoss

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Reply 2 on: Aug 21, 2022
Wow, this really help


ricroger

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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