Trade payables can be verified with the help of following points:

• Check the adequacy of cut off procedure to ensure that transaction of next period are not accounted and all transactions of year end are accounted.
• Check posting in the bought ledger from books of prime entry.
• Compare the balances in the schedule of trade payables with balances in bought ledger.
• Compare the balances with the confirmation or statement of account received from trade payables.
• Pay special attention to long outstanding items and enquire about the reason thereof.
• Verify subsequent payments and reversal entries in the bought ledger of year end entries.
• See that trade payables are classified and shown in the balance sheet as per requirement of Schedule III to the Companies Act, 2013.