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Vouching Meaning—Objectives of Vouching—importance of Vouching— Vouching and Routine Checking—The Voucher—Types of Vouchers— Mechanised AEE: —Advantages and disadvantages—Tutorial Assignments. WHAT IS VOUCHING . ; 7 pene rere a Vouching is concemed with examining documentary evidence to ascertain the authenticity of entries in books of accounts. In other words, it is an inspection by the auditor of an evidence supporting the transaction made in the books. Vouching is a technique used by an auditor to judge the truth of entries appearing in the books of accounts. Accounting entries are made in the books of account, All such entries must be supported by a document. An accountant is not supposed to make any accounting entry unless he is having a documentary evidence to support. If a proper documentary evidence is not available or such evidence is not fully supporting accounting entries made, auditor has every reason to doubt about the existence of error, fraud or manipulation of accounts, goods or cash. Every transaction must be supported by a voucher. : Thus, vouching is a technique in which an auditor verifies authenticity and authority of transactions recorded in the books and on basis of which submits a report, indicating that accounts are” correct, free from errors or fraud and complete. Success of an audit depends on the efficiency with which vouching has been used. Without vouching auditing is incomplete. Vouching is not only examining the documentary evidence but Sometimes auditor has to go behind recorded evidence to eliminate any possibility of fraud. _“Vouching means testing ine truth of items enpeanng in the books of original entry”. °° __- ‘Nouching is an act of comparing entries in the books of accounts with Soctimentary, evidenc support Hhereer including i in such Examination the root so far as possible, that no entries have been omitted from: the books”, —Taylor and ~- ‘Nouching does not mean merely the inspection of receipts with the cash book, but includes the ®Xxamination of receipts with the transactions of a business, together with documentary and other | 8vidence of sufficient validity to satisfy the auditor that such transactions are in order, have been’, properly authorised and are correctly recorded || in the books”. Scanned with CamScanner 
