METHODOLOGY FOR EVALUATING INTERNAL CONTROL TOOLS DURING THE AUDIT OF WRITE-OFF OF ACCOUNTS PAYABLE OF AN ORGANIZATION

Author(s): Povarova E.S.

Rubric: Management

DOI: 10.21777/2587-554X-2021-3-97-105

Release: 2021-3 (38)

Pages: 97-105

Keywords: accounts payable, internal control system, controls

Annotation: During the audit of accounts payable, the auditor may need to evaluate the internal controls applied by the audited entity to determine the ongoing work to identify, timely repay and determine the reasons for writing off the organization’s accounts payable. In this regard, the assessment of the internal control of the audited entity for working with creditors is an important aspect of the audit of accounts payable and its write-off, in particular. The purpose is to present the format of a working document for testing the internal control tools of the audited entity for working with creditors. Results: The article presents the format of a working document for testing the internal control tools of the audited entity for working with creditors, which will allow the auditor to identify problematic areas in the internal control system for accounting for accounts payable of the audited entity.

Bibliography: Povarova E.S. METHODOLOGY FOR EVALUATING INTERNAL CONTROL TOOLS DURING THE AUDIT OF WRITE-OFF OF ACCOUNTS PAYABLE OF AN ORGANIZATION // Economics and Management. – 2021. – № 3 (38). – С. 97-105. doi: 10.21777/2587-554X-2021-3-97-105