Auditing Accounts Payable What Are the Procedures Available to Auditors

question 43

Essay

Auditing accounts payable What are the procedures available to auditors in auditing accounts payable and what level of assurance is obtained by each? Describe at least three.Which primary assertion is tested through these approaches?

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Definitions:

Fundamental Attribution Error

The fundamental attribution error is a cognitive bias wherein people overemphasize personality traits and underestimate situational factors when explaining others' behavior.

Personality Traits

Enduring patterns of behavior, thought, and emotion that are characteristic and consistent in individuals.

Cognitive Dissonance

The psychological discomfort experienced when holding two or more conflicting beliefs, ideas, or values at the same time.

Assigned Roles

The social positions or responsibilities designated to individuals by society or in specific contexts, such as jobs or family.