Audit Evidence Practice Test

In a nonissuer audit, you are testing completeness of accrued liabilities. Management provides an accrual listing prepared from the general ledger and asserts it includes all accruals; however, you noted significant post-year-end invoices and recurring late vendor billings. Which procedure provides the most reliable evidence to support completeness of accruals?

You are the auditor of a nonissuer in a financial statement audit. Management provides a spreadsheet of year-end inventory quantities compiled from periodic counts, and internal control over inventory count sheets is weak (count tags are not prenumbered and there is no independent review). Which procedure provides the most reliable evidence about the existence assertion for inventory at year-end?