1 1 1 Common misstatements related to accounts payable Starting from the above characteristics, when auditing the payables to suppliers, it is necessary to note the following mistakes No detailed acco.
I.1.1 Common misstatements related to accounts payable Starting from the above characteristics, when auditing the payables to suppliers, it is necessary to note the following mistakes: No detailed accounting has been made for each payer (supplier of materials, goods, services or main and subcontractors for construction and installation) The payables have not been classified as payables to third parties, long-standing payables or problems Overdue (or long) unresolved liabilities The reconciliation has not been performed or the debt reconciliation with the seller has not been fully completed at the end of the year The balance of payables in the accounting books is different from the record of reconciliation of payables but has not been resolved Accounts payable were misreported during the period Monitoring inappropriate debts: tracking on two codes for the same object, no clearing for debts of the same object Failing to keep track of debt details in original currencies for foreign currency liabilities At the end of the period, the balance of payables denominated in foreign currencies has not been re-evaluated at the interbank exchange rate at the time of preparation of the financial statements Misclassifying contents of other payables into payables to suppliers, failing to classify commercial and non-commercial payables, and accounting incorrectly in economic terms There is no debt age analysis table to have a payment plan, overdue debts have not been paid The interest payable to the seller has not been recorded in case of late payment Do not record a decrease in payables in case of a decrease in sales price or a trade discount or payment discount