- E. Perform further audit
- procedures—substantive procedures for accounts payable.
1. Obtain or prepare a trial balance of accounts payable as of the balance sheet date and reconcile with the general ledger.
2. Vouch balances payable to selected creditors by inspection of supporting documents.
3. Reconcile liabilities with monthly statements from creditors.
4. Confirm accounts payable by direct correspondence with vendors.
5.Perform analytical procedures for accounts payable and related accounts.
6. Search for unrecorded accounts payable.
7. Perform procedures to identify accounts payable to related parties.
8. Evaluate proper balance sheet presentation and disclosure of accounts payable.