Importance of Vouching: The importance of vouching can be ascertained, because it: Serves as a basis to express an opinion about truthfulness and fairness of ...

While checking the entries in books of account with relevant documentary evidence, it may happen that vouchers against certain recorded transactions may not ...

There are two main types of audit programs: Fixed Audit Program.Flexible Audit Program. Fixed Audit Program. It is a set of standardized ...

Audit evidence may be any document, material or other source of material which is available to substantiate any assertion made in financial statement or ...

Meaning of Internal Check: Internal Check is a valuable part of internal control. it is an arrangement of duties of the staff is such a manner that the ...

Main Advantages of Internal Check: System of internal check puts moral check on members of staff and enables them to learn honesty, hard work and straight ...

Internal check as regards Cash Sales in a big business house, where a large number of daily cash transactions. There many chances of frauds and irregularities ...

In case of a large manufacturing where the number of workers is large, a satisfactory system of internal check should be introduced to avoid: Payment of more ...

Internal Control Scope: It comprises the whole system of Controls, financial or otherwise, established by the management for conduct of business. It ...

Balance Sheet audit: Balance Sheet audit is a limited audit in which all. the Balance Sheet items are verified viz, assets, liabilities, balance of reserve ...