Vouching

Dear Friend

A voucher is a document & documentation for making an entry whereas the bills & other supportings to be attached along with the voucher whether its being generated computerised or manually.

At the time of auditing one has to verify that if there is a voucher for all the entries & verify the supported attachments/documents viz., bills,invs, rects etc to authenticate & apply the arithmetical accuracy & formallity in completion of auditing.

Originally posted by : V P Narasimhan
	Dear Friend A voucher is a document & documentation for making an entry whereas the bills & other supportings to be attached along with the voucher whether its being generated computerised or manually. At the time of auditing one has to verify that if there is a voucher for all the entries & verify the supported attachments/documents viz., bills,invs, rects etc to authenticate & apply the arithmetical accuracy & formallity in completion of auditing.

AGREED.

Pls help...

I m doing audit of a partnership firm & a private ltd co. both deals in leather goods and related to same person.

Partner of first firm is also the director of pvt ltd co.

In my case, pvt ltd co. makes payment to a vendor on behalf of partnership firm, which is a vendor of partnership firm.

Can a pvt ltd co. gives payment to partnership firm, where same person is director in one co. & partner in another co.

reply i m wating

it is a related party transaction and disclosed seperately

Rajnikant pls clear what does it means

every related party transaction must be disclosed in the register u/s 301...the co.hv to maintained it...