Accrued Expense: An accrued expense is an accounting expense recognized in the books before it is paid for. It is a liability , and is usually current. These expenses are typically periodic and Rent Expense - cost paid or to be paid to a lessor for the right to use a commercial property such as an office space, a storeroom, a building, etc. 9. Repairs and Maintenance - cost of repairing and servicing certain assets such as building facilities, machinery, and equipment 10. So, now you know the why and how of auditing accounts payable and expenses. In some entities such as governments, payroll makes up over 50% of total expenses. Consequently, knowing how to audit payroll expenses is of great importance.