When the auditor uses the audit procedure vouching she is primarily concerned with which of the following audit objectives when testing classes of transactions?
A)occurrence
B)completeness
C)authorization
D)classification

Question

Quizplus · Accepted Answer

The audit procedure of vouching involves selecting a sample of transactions from the financial statements and tracing them back to the supporting documents to verify their accuracy, completeness, and authenticity. This procedure primarily focuses on testing the occurrence objective, which ensures that transactions and events recorded in the financial statements have actually occurred and pertain to the entity being audited. Therefore, option A is the correct answer. While vouching may also reveal potential issues with authorization and classification, those are not its primary aims. Completeness testing usually involves tracing from the original source document to the financial statement, which is the opposite direction of vouching.

When the Auditor Uses the Audit Procedure Vouching She Is