Asking about vouching

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2013 Sir,

Today is my 3rd day As an Article..and i m doing vouching
So, sir can u please tell me that what is the benefit of vouching....
can it be beneficial for us....

Ganeshbabu K

Ganeshbabu K (Expert)
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18 September 2013 Vouching is important part of Audit
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only through vouching we can obtain audit evidence on transactions for the year

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it depends how u doing vouching,,vouching does not mean verification of date and account hand from system to physical voucher
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1)whether the transactions related to relevant finanical year and whether transaction related to business

2)whether voucher approved by competent person and whether the voucher entered to electronic mode of accounts after approval of physical voucher by comptent person

3)whether any taxes(reversecharge,TDS) Applicable on transaction

4)in case of expences whether expence charged was as per agreed rate and this expence should be approved by competent person

5)whether voucher entered in correct account head

Querist : Anonymous

Querist : Anonymous (Querist)

19 September 2013 Thanx sir,
As i stated above This is my 1st Audit..
& No Experience person With Me.. I m Alone in Client Place...
So i Didn't able to Understand which Type of knowledge i will Get From Vouching & How....
Sir, Please tell me Some Suggestions as nobody tells me how to do Auditing & Mainly Vouching..

Ganeshbabu K

Ganeshbabu K (Expert)
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20 September 2013 In my above reply i have said abt how to do vouching..
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Kindly refer again

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