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Audit of accounts payable/receivable

renuka (Student) (480 Points)

25 March 2014

Is there any particular SA that deals with audit of A/P and A/R? How will I go about auditing these items?

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CA Saroj Kumar (Keen to learn something new every moments) (2588 Points)
Replied 25 March 2014

There is no such special SA in this regards....dear these items are audited as per the auditor professional judgement and experience and Details of available information like contract agreement, Bills, Vocuhers, Party Details, Bank Statements, Debtor List, Creditors List, Invoice, Purchase Order, Sale order, Inward/outward Remitence etc.