Question

why is verification necessary even after vouching?​

Answer 1

Answer:

Vouching, Verification and Valuation

Vouching, Verification and ValuationIn vouching, accounting entries are checked with the bona-fide vouchers. Verification proves the existence, ownership and title of assets. Valuation certifies the correct value of asset. Vouching is done after original entry in the books of accounts.

Answer 2

Explanation:

In vouching, accounting entries are checked with the bona-fide vouchers.

Verification proves the existence, ownership and title of assets.

Verification and valuation are done at the end of the financial year.

Vouching is done by Senior Auditor and Audit Clerk.

Verification and valuation are done by the Auditor himself