Vouching The act of examining documentary evidence in order to ascertain the accuracy and authenticity of entries in …

Vouchers A voucher is a written paper or document in support of an entry in the books of account. They maybe of two typ…

Distinction Between Internal Check and Internal Audit 1. Internal check is an arrangement of as duties allocated in su…

Internal Check In internal check is a method of organising the accounts system of a business concern or a factory whe…

Internal Audit  Internal audit is the review of operations and records undertaken within a business by specially assign…

Classification of Audit Audit may be classified into two categories mainly ; -  (a) according to organizational struc…

Limitations of Auditing Truly speaking an audit should have no limitation of its own. It is designed to protect the in…

Advantages of Auditing It is of great importance to get accounts audited in a proprietary concern to see that business…

Types of Errors A. Clerical Errors : Clerical errors are those which result on account of wrong posting that is postin…

Objects of an Audit The main object of audit is to verify the accounts and to report whether the Balance Sheet and the…

Difference between Accountancy and Auditing        The difference between Accountancy and Auditing is as follows  1. A…

Origin of Auditing                The origin of auditing may be traced back to the 18th century when the practice of l…