CAT / FIA FAU Syllabus D. Audit Evidence And Procedures - Payables - Non-current Liabilities - Notes ^{9 / 18}

Substantive Procedures

• Obtain the list

• This list should show the movement in the year (an amortised cost table basically)

• Check for arithmetical accuracy

• Agree opening balances to last years SFP

• Check new borrowings have been authorised

• Agree loan details with original agreement

• Check all restrictions have been complied with

• Check all payments / receipts to the cashbook

• Recalculate interest expenses / accrual

• Get direct confirmation from lender of outstanding balance

• Check charges on assets have been registered

• Ensure current / non-current split is correct (capital only)

• Review cashbook for large, unusual receipts that may actually be new loans