Professional Documents
Culture Documents
Liabilities
Valuation of Bills payable
• The auditor should obtain the
outstanding obligations on account of
the bills payable.
• Obtaining confirmatory certificate
from the drawers directly.
• Verification of Balance sheet and
Cash book.
• Paid bills are not outstanding bills.
Outstanding Liabilities for
expenses
• Obtaining a certificate from a
responsible officer for all outstanding
liabilities..