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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › Supplier statement reconciliation
Hi
I am doing a question which asked write 3 substantive procedure for supplier statement reconciliation:
– Obtain a sample supplier statement for random suppliers and agree the balance with in the FS to verify the completeness
-Match the supplier statement balance with the last year, any significant differences, discuss with the management
Can i write this?
In revision kit they did not mention any points like this
Neither point makes any sense. The FS includes a single amount for trade payables so an individual supplier’s balance cannot be agreed to it. Individual supplier’s statements can only be reconciled to the individual balance in the purchase ledger. Statements are sent monthly by suppliers to customers …. Last year’s balances are irrelevant.
Thanks