When using the audit procedure vouching,the auditor is primarily concerned with which of the following assertions?
A)Completeness.
B)Existence.
C)Authorization.
D)Classification.

Question

Quizplus · Accepted Answer

Vouching is an audit procedure that involves selecting a sample of transactions and tracing them back to the supporting documents to check whether they really occurred and are valid. The primary concern of vouching is to determine the existence of the transactions, which is the assertion that the transactions actually took place, and the amounts and other details are correct. The other assertions such as completeness, authorization, and classification are not the primary concern of vouching, although they may also be examined in the audit process.

When Using the Audit Procedure Vouching,the Auditor Is Primarily Concerned