InitialsExistence/Occurrence

1.Obtain or prepare summary analyses of accrued liabilities.

2.Examine cash vouchers for payments made during the year.

Valuation
3.Trace beginning balances to prior year audit working papers.
4.Trace ending balances to trial balance.
5.Recalculate footings and clerical accuracy in each account.

Existence or Occurrence; Completeness; Valuation or Allocation

6.Examine final payrolls for the year, period covered, and dates paid to determine accruedpayroll
at year-end.
7.Analyze all accrued payroll tax accounts for the year indicating beginning balances,payments,
accruals, and ending balances.
8.Recompute accrual of payroll taxes by applying tax rates to total wages subject to tax.
9.Trace total payroll tax expense to expense account balance.
10.Trace withholding tax accrual to total withheld per payroll records.
11.Perform analytical procedures on Dividends Payable account to determine number of shares
and dividend per share