Vouching involves:
A)the application of audit procedures to less than 100 per cent of items within a population.
B)tracking a source document through to the underlying accounting records.
C)agreeing the details of a transaction to supporting evidence outside of the company's accounting records.
D)None of the above

Question

Quizplus · Accepted Answer

Vouching is the process of tracing or verifying a transaction from the original source document through to the underlying accounting records. In option C, agreeing the details of a transaction to supporting evidence outside of the company's accounting records is the most relevant and accurate description of vouching. Option A describes sampling, while option B describes tracing. Option D is incorrect because vouching is a recognized audit procedure.

Vouching Involves