Vouching of Payment of Wages. The vouching of wages is one of the most important duties of the auditor. He should first of all assess the operation of an ...

Vouching of Receipts from Debtors. There should be an effective system of Internal Check. Important parts of such systems should be (a)Persons maintaining the ...

The definition of vouching discloses that it is a sort of preliminary work which forms an important part of the audit work. Since accounts of the business ...

Routine Checking is the elementary part of auditing. It is checking of arithmetical accuracy of books of account, accounting statements and other related ...

Audit Program and an Audit Note Book. An audit programme contains the description of the specific audit procedures to be performed in respect of different ...

Internal Check in respect to Purchases. In order to check error and fraud in purchase department there should be a proper system of control and supervision of ...

Internal check denotes such an arrangement of duties among the staff that the work performed by one individual is independently checked by another in a routine ...

Statutory audit and Internal Audit are closely similar as regards the internal control system, ascertainment of adequacy and effectiveness of the accounting ...

Different Classes of Audit are: Audit under Statues. This is also called as Statutory Audit. In case of a company where audit is made compulsory by law is ...

The objects of audit can be classified as Main Objects and Subsidiary Objects. Main Objects: The main object of audit is to verify the accounts and to report ...

Difference between Interim and Final Audit: Final Audit is also known as periodical audit, annual audit or complete audit. This type of audit is usually done ...

Continuous audit is an audit which is continuously done throughout the year. Continuous audit involves detailed examination of transactions, books of accounts ...