Page 172 - DCOM204_AUDITING_THEORY

Auditing Theory Manpreet Kaur, Lovely Professional University

Notes Unit 9: Vouching

CONTENTS
Objectives
Introduction
9.1 Vouching
9.1.1 Objectives of Vouching
9.1.2 Procedures of Vouching

9.1.3 Precautions
9.2 Vouching of Cash Transactions
9.2.1 Internal Check as Regards Cash Book
9.2.2 Procedure in Regard to Vouching the Debit Side of the Cash Book
9.2.3 Credit Side or the Payment Side of the Cash Book
9.2.4 Understatement of Deductions
9.2.5 Auditor Duty as regards Wages
9.2.6 Examine the System of Employment of Casual Labour

9.3 Vouching of Trading Transactions
9.3.1 Internal Check as regards Purchases
9.3.2 Procedure of Good Internal Check regarding Purchase
9.3.3 Duty of an Auditor in Connection with Credit Purchase
9.3.4 Purchase Return
9.3.5 Credit Sales
9.3.6 Duties of an Auditor in connection with Credit Sales

9.3.7 Sales Return
9.3.8 Goods sold on Sale or Return System
9.3.9 Goods sent on Consignment
9.3.10 Total Accounts and Sectional Balancing
9.4 Summary
9.5 Keywords
9.6 Review Questions
9.7 Further Readings

Objectives

After studying this unit, you will be able to:
Discuss meaning of vouching;
Describe objectives of vouching;
Analyse the principles of vouching;

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