Which of the Following Is Not a Typical Audit Procedure

question 20

Multiple Choice

Which of the following is not a typical audit procedure performed as part of the out-of-period liability tests?

• A) Examine underlying documentation for cash disbursements made during the last month of the year.
• B) Examine underlying documentation for bills not paid several weeks after the year-end.
• C) Trace receiving reports issued before year-end to related vendors' invoices.
• D) All of the above are correct.

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Definitions:

Discussing Information

The act of talking about data or facts with others to share knowledge, clarify understanding, or make decisions.

Metadiscussion

Discussion about discussion; comments that describe the discussion process rather than the topic under consideration.

Groupthink

A faulty sense of agreement that occurs when team members seemingly agree, but they primarily want to avoid conflict.

Piggyback

refers to using or building upon an existing idea, platform, or system for new purposes or benefits.