Vouching is the essence or backbone of auditing because when performing an audit, an auditor must have proof of all transactions.
Primary Voucher, original copy of written supporting document is called primary voucher.
Message likes :.Without existence of adequate internal control system in organisation, an Auditor should not opt for test checking.Pre-numbered payment vouchers the list of are tirebuyer com military discount used attestatio To ensure all n documents and gift for 1 year old baby girl indian records.Investigation about missing vouchers in file if any.Cheque books are pnc credit card points rewards adequately maintained in safe custody.While vouching the transactions, the auditor should first of all examine the various vouchers keeping the following points in mind:.A voucher may be a sales bill, purchase bill, payment receipt, pay-in slip, etc.Similarly, vouching is base of all auditing process.When delivering the decision the Judge stated that "It was clear that a good many documents were suspicious on either face and called for Inquiry".Vouching and Routine Checking, routine checking covers the checking of every carry forward, posting to ledger account and balancing of account.1) Check Date, Party Name or Expense Head, Amount, Narration and cheque number matched between voucher and Tally.Made in the Name of the Employer : The auditor should see whether the voucher is made in the name of the employer of the concern.Pad Paper is not Voucher : Pad papers should not be accepted as vouchers because in such case chances of fraud are more.Between cheque preparation, approval of payment vouchers and signing of chequesMisuse of funds To ensure funds Inquire as to whether company receives advanced from HQ as any advances from.
Not to Accept Invoice as a Voucher : The invoice should not be accepted as voucher because there are a lot of chances of double payment.e., once in the form of credit purchase and second time in the form of cash purchase.
To verify that transactions are free from errors or frauds.Vouching does not include valuation.Cash Payments, demand note, cash receipt, cash memo, etc.After entering in all vouchers, only then can auditing start.PowerPoint Tips and Tricks for Business Presentations.Collateral Voucher, copies of supporting documents which are not available in original are collateral voucher like duplicate or carbon copy of sale invoice.GST Certification Course (Industry Recognised) by CA Bimal Jain - With All the Latest Amendments.
Cancelled cheques are attached to the payment vouchers.