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which of the following audit procedures is the most efficient at detecting unrecorded liabilities at the balance sheet date? a. examine purchase orders issued for several days prior to the close of the year. b. compare cash disbursements in the subsequent period with the accounts payable details at year-end. c. obtain a letter from the client's attorney d. confirm large accounts payable balances at the balance sheet date.

Respuesta :

Comparing cash outlays in the succeeding period with the accounts payable data at year-end is the audit approach that is most effective at finding unrecorded liabilities at the balance sheet date.

Which of the following audit techniques is more effective in finding liabilities that weren't recognized at the balance sheet date?

The best method for identifying unrecorded liabilities is the confirmation of accounts payable chosen from the year-end trial balance of such accounts.

What audit method is most effective for identifying the presence of unreported liabilities?

The best audit method for identifying the presence of unrecorded obligations is to examine a subset of cash disbursements in the time after year-end. All liabilities must be settled at some point, thus they will appear in the accounts when they are, if not already, when they are paid.

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