Trade debts

Trade Debt is the money payable by a Company to its supplier for goods or services received by it.

it is an arrangement where payment for goods or services is not made upfront. This payment has to be made to the supplier at a later scheduled date, as decided by both the parties to the deal.

This document includes how to audit the trade debt, the audit program, and procedures.

This list of audit procedures is designed to detect a variety of audit risks, which include the following in the form.