Auditing of Vouching – Why It is the Essence of Auditing

During conduct of an inspection by auditors, a major chunk of field work in validating management’s representations and collecting proofs takes the shape of corroborating and vouching. Without the auditing of vouching, no investigation is complete and therefore it is imperative to grasp the concept of vouchers and what it means to ‘vouch’ in audit. … Read more

7 Different Types of Audit for Greater Business Insight

According to textbook definition, audit is an independent examination of management-prepared financial information to ensure they give a accurate and fair picture. However, to encompass different types of auditing, a broader understanding would surmise audit as an investigation carried out to verify managements representations while engaging professional expertise to propose improvements where possible, financial or … Read more