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Procedures

Payables and accruals

9.1 Key assertions

 Completeness

9.2 Sources of evidence

 Aged payables listing

 Purchase invoices

 Goods received notes

 Supplier statements

 Cash book / bank statements

9.3 Key areas to consider

 Completeness

 Supplier statement reconciliations

 Debit balances on the payables ledger

 Accruals

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