Auditing code 481 solved assignment # 1 for B A students’ semester autumn 2015 is now available for you students. The first assignment we have uploaded already.

The first question is difference between verification and vouching. Vouching is 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. Vouching proves helpful, in verification. In spite of knowing the fact that they differ from each other, many accounting students are not able to distinguish them correctly.

There is a slight difference between vouching and verification, which we have compiled after a thorough study on the two.

DEFINITION OF VOUCHING:– Vouching is a process of checking the vouchers related to the transactions recorded in the books of accounts, by an auditor himself or by his assistant or by an audit clerk. The basic purpose of auditing is to check the validity of transactions, appearing in the books. It is to ensure that whether the transactions recorded in the primary books of accounts are matched with the documentary evidence or not. It also helps in checking that the amount mentioned in the transaction is accurate and the vouchers are free from errors regarding totaling and casting. The auditor will trace the list of missing vouchers. Additionally, the auditor may also check proper disclosures have been made in the final accounts.


In general, verification refers to the establishment of fact or truth. In the context of auditing, verification is a procedure of examining and confirming the ownership, actual existence, valuation and possession of the assets and liabilities appearing in the Balance Sheet. It is generally conducted at the end of the accounting period.
The complete comments about vouching and verification is also provided in hard copy of this solved assignment 2 for the course code auditing 481.

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