Vouchers
A voucher is a written paper or document in support of an entry in the books of account. They maybe of two types :
1. Primary:- A written evidence in original is said to be the primary voucher, for example, invoice for a purchase.
2. Collateral:— When the original voucher is not available, copies there of are produced in support or subsidiary evidence in order to remove doubt from the mind of auditor. Such a voucher is usually known as a collateral voucher.
A voucher may be a receipt, invoice wage-sheet, an agreement, correspondence, bank paying-in-slip, minute books recording resolutions of directors or share holders, and so on.Whileexamining vouchers the following points should be noted by the auditor:
1. All vouchers have been properly filed, serially numbered and arranged in order as it saves time in finding out a particular voucher in checking.
2. The voucher is properly stamped as normally every receipt for more than five hundred rupees requires a revenue stamp unless legally exempted.
3. The date and the year of the receipt or the voucher corresponding with the cash book. The name of the party to whom the voucher is issued, the name of the party issuing voucher and the amount etc. are correct.
4. Those vouchers which have been inspected by him are stamped so as to avoid the possibility of their being produced again.
5. Every voucher is passed “as in order” by some responsible person whose signature should be noted.
6. Amount paid appears both in words and figures. If they differ, the matter should be investigated.
7. For missing vouchers, the auditor should satisfy himself with regard to the reasons of their being lost. If he is not satisfied with the explanations, he should state this fact in his report.
8. No help from any member of the staff of the client has been taken while vouching the entries and checking the vouchers.
9. Any alteration in the voucher is duly signed by the invoice clerk.
10. In case of vouchers for insurance, rent, rates and taxes etc., the period for which the payment has been made should be noted.
11. Special attention should be paid to those vouchers which are in the personal name of one of the partners, Directors, manager, Secretary or any other official of a business and which may or maynot relate to the business itself. In case of purchase, original invoice, inward book and order book etc. should be examined to ensure that the goods were purchased for the business only.
