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The auditor's plan to examine interest-bearing debt most likely will include steps that require vouching borrowing and repayment transactions.
The processes that call for vouching borrowing and repayment activities will probably be part of the auditor's plan to investigate interest-bearing debt. Any company's balance should include interest-bearing debt since it gives you a clearer sense of its debt-to-capital ratio.
The balance sheet of a company typically contains information on its interest expense, but if you don't have access to one or it isn't disclosed, you can calculate it. You must first determine the interest-bearing debt rate that the company is paying on each debt before dividing that rate by the total amount of the corresponding debt.
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