Question

Difference between vouching and verification​

Answer 1

Answer:

Vouching = is the soul of Auditing because it forms a base for an effective audit procedure. Vouching means “to vouch” i.e. examine the vouchers. On the other hand.

Verification = means “to verify” the assets and liabilities of the business. Both the two terms are the first two steps of Auditing, infact vouching helps in the process of verification.

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