Vouching of Income and

Expenditure

MEANING
Vouching is an important procedure for
obtaining audit evidence.
Normally, entries in the books of
account are made on the basis of
documentary evidence such as bills,
receipts, cheque counter-foils, pay-in-
slips, pay roll and so on.
Such documentary evidence is called
a voucher.

.
 Vouching of Income and Expenditure

Vouching means the critical examination of such vouchers.

Prof. Dicksee has defined

Vouching as comparing the entries in books of accounts with
documentary evidence in support thereof. Vouching is the
inspection of documents supporting an entry in accounts
 Vouching of Income and Expenditure

AIMS AND IMPORTANCE

Auditing is the critical examination of accounts to
determine whether they are true and fair and free
from errors and frauds
 Vouching of Income and Expenditure

TRUE AND FAIR

Vouching enables the auditor to ascertain whether the
entries in the books are true and fair, which is the basic
objective of auditing. Vouching provides audit evidence in
respect of the following matters
 Vouching of Income and Expenditure

TRUE AND FAIR

Occurrence
 Vouching of Income and Expenditure

TRUE AND FAIR

Amount
 Vouching of Income and Expenditure

TRUE AND FAIR

Relevant Entries:
 Vouching of Income and Expenditure

TRUE AND FAIR As Per Standards:

 Vouching of Income and Expenditure

TRUE AND FAIR

As Per Law:
 Vouching of Income and Expenditure

TRUE AND FAIR

Disclosure:
 BAF
stude
nt see
carefu
lly
 SALES (CREDIT AND CASH)

Supporting Documents:

Name:

Date:

Sr. No.:

Amount:
Quantity:

Audit Report Under Signatures on Bills:

CARO 2003 :

Signature and Stamp of Party:

Disclosure vide Revised Schedule VI: Errors and Frauds:

Proper Accounting:
Comply with Companies Act Guidelines by ICAl
 SALES RETURNS

Supporting Documents:

Name:

Date
:
Sr. No.

Amount:

Quantity:

Signatures on Credit Notes and GRN

Signature and Stamp of Party:

Errors and Frauds:

Proper Accounting: