Auditing: Principles and Techniques

Chapter 5

Vouching

CHAPTER OUTLINE

5.1 Introduction

5.2 Concept of Vouching

5.3 Objectives of Vouching

5.4 Importance of Vouching

5.5 Vouching and Verification

5.6 Vouching and Routine Checking

5.7 Concept of Voucher

5.8 Internal and External Evidence

5.9 General Principles of Vouching

5.10 Teeming and Lading: A Challenge to Vouching

5.11 Vouching of Different Types of Transactions

5.1 INTRODUCTION

Having recorded the system of internal control and assessed its strengths and weaknesses, the auditor is then in a position to plan the nature and extent of the audit tests he proposes to execute in relation to the organisation’s accounting transactions. The tailoring of the audit programme this way to meet individual demands of different accounting ...