Accounts Payable Audit Procedures
Accounts payable audit procedures are the steps that auditors make to verify the quality and accuracy of balances and accounts provided to them by their clients. Audit procedures include different classes of accounts. For example, they vary by the diversity and description of the client’s business nature. Audit procedures lead the auditors to look at the balances and verify them in various ways. That is to make sure that everything is legitimate and clear.
What are the accounts payables?
Accounts payables mean the balances that a business/organization owes to its suppliers. For example, sales invoices include descriptions and prices. Payables accounts, in turn, are the balances that will be compensated in the future to their corresponding creditors.