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Vouching may be termed as ?

A. identification of the documentary evidence supporting the transaction.B. verification of the document supporting the transaction.C. authentication of the document supporting the transaction.D. verification of accuracy and authenticity of the transaction.

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Question ajoutée par VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.
Date de publication: 2015/01/28
imran Noor -
par imran Noor - , Audit Officer , Auditor General of Pakistan

The correct option is (B).

Vouching is a tool, a technique of test of details of transactions in which the auditor inspects the vouchers, related documents to verify that the transactions have been well supported by the documents.

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
par VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

Answer option (b) >>>>>>>>>>>>>>>>>>>>   verification of the document supporting the transaction.

Mohammed  Mohammed
par Mohammed Mohammed , Senior SAP Consultant , Abyat Mega Store

verification of the document supporting the transaction is correct

Abd ElRahman Mohammed Idris Mohammed
par Abd ElRahman Mohammed Idris Mohammed , Internal Audit Manager , Kenana Sugar Company Limited

Answer (B) verification of the document supporting the transaction.

Mohammed Salim Allana
par Mohammed Salim Allana , Compliance and Assurance Manager , United Arab Bank

D. verification of accuracy and authenticity of the transaction.

Salah Othman Yousef Alshambaati
par Salah Othman Yousef Alshambaati , مدير ادارة الحسابات , شركة انفال الجديدة للتجارة والمقاولات

D..............................

LABIB KOOLI
par LABIB KOOLI , Director of the Sectoral Center for Training in Hotel Technologies at Southern Hammamet , Tunisian Vocational Training Agency (ATFP)

Vouching may be termed as D. verification of accuracy and authenticity of the transaction

Sharafudheen Chettiyarthodi
par Sharafudheen Chettiyarthodi , Finance Manager , Obeikan Plastics (OPF)

Vouching is the examination of documents supporting to a transaction, vouching starts with verification and the result will be accuracy of transactions. :combination of B & D.

ايمن محمد عاطف محمد
par ايمن محمد عاطف محمد , Director of the control and regulation unit , ACOLID

Vouching is a technical term, which refers to the inspection of documentary evidence supporting and substantiating a transaction, by an auditor. It is the essence of Auditing

 

Vouching can be described as the essence or backbone of auditing. The success of an audit depends on the thoroughness with which vouching is done. After entering in all vouchers, only then can auditing start. Vouching is defined as the "verification of entries in the books of account by examination of documentary evidence or vouchers, such as invoices, debit and credit notes, statements, receipts, etc

Mir Mujtaba Ali
par Mir Mujtaba Ali , Internal Audit Manager , Confidential

>>>>>>>>>B. Verification of document supporting the transaction<<<<

Bilal Khan
par Bilal Khan , Senior Tax Accountant , Finvesco Limited

 

Vouching is a terms used to ensure that the accounts does not reflect any material misstatements, it is a method used to collect audit/supporting evidence.

 

The point in question is just a transaction and not many transactions as for many transactions vouching would be sampled out, to form an opinion out of total population.

 

The purpose of vouching is to verify all documents supporting the transaction contains accurate information and is signed by an authorized person.

 

option B would be correct answer in general for many transactions but option D provides you specifically what is done during vouching a transaction.

 

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