importance of voucher in auditing

Vouching Is Important To See Whether Evidences Are Correct Or Not.
If the cheap clothes online mens payment is received from a customer, then a voucher will be prepared as a proof to the transaction.
Other Useful Stuff, connect With Us 2017 m, Inc.Main aim of auditing is to detect errors and frauds for proving the true and fairness of results presented by income statement and balance sheet.An auditor should ensure that the alterations made in the vouchers are duly authorized.Our summaries and analyses are written by experts, and your questions are answered by real teachers.Check whether the vouchers are printed, numbered and arranged in the order of the date of occurrence of transactions.So, the auditor should stamp the vouchers already verified by him to avoid such frauds.14 important points are listed below.Voucher can be in three different forms.If the supporting evidences are not available, the auditors may ask for more information and explanation concerning such transactions.An Auditor should consider the following features in vouching while verifying vouchers.
The entries in the books of accounts should also be numbered and the number and date should correlate with the concerned voucher.Loss statements: These vouchers are made to determine the losses incurred.Sales: These vouchers are a proof of the sale of inventory to the customer and help in establishing that sale is not fictitious.Vouching is only the way of detecting all sorts of errors and planned frauds.The name of the person with whom the transaction is carried out, the details of the transaction and the amount involved should be clearly stated in the voucher.The auditor should verify that the prepaid and outstanding amounts are duly accounted for the period to which such transactions relate.The transaction should relate only to the business aspects of the organization and transactions of personal nature should not be recorded.An auditor checks the books of accounts to detect errors and frauds.Journal: These are the vouchers when the account is neither a cash nor cheque.




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