The audited financial statements of GlaxoSmithKline (GSK) plc for the year ended 31 December 2016 include within Current Liabilities on the Consolidated Balance Sheet the line ‘Trade and other payables’. The figure shown is £11,964 million for 2016. Describe the substantive audit procedures that would have been carried out to enable the auditors to arrive at a conclusion as to whether this figure was materially misstated.

This assignment will count 20% towards your final mark for the auditing module. The word count for the assignment is 1,500 words (± 10%). Workings for any computations carried out in relation to the assignment should be included as an Appendix and need not be included in the word count.