Vouching is an auditing process that involves inspecting documentary evidence to validate and substantiate financial transactions, ensuring they are accurately recorded and free from fraud. Its importance lies in confirming that transactions are classified, accurately recorded, pertain to the entity, and are supported by proper documentation. Vouchers serve as documentary evidence for transactions and can be classified into primary and secondary types.

1. VOUCHING
CONCEPT
MEANING
IMPORTANCE
TYPES

2. MEANING
• Vouching means inspection by an auditor of documentary evidence
supporting & substantiating transactions. Vouching is the process
of checking documentary evidence that the transactions are
properly recorded & accounted for.
•
The main aim of vouching is to inspect all receipts & payments are
properly accounted for & no fraudulent transactions are recorded.
Vouching is a substantive audit procedure to obtain evidence as to
completeness, accuracy & validity. With the help of vouching
auditor come to know the genuineness of the transactions.

3. IMPORTANCE
• Classification: Transactions have been classified & disclose in
accordance with accounting policies.
• Accurate amount: Accurate amount has been recorded.
• Pertains to entity: Transactions pertain to an entity that took place
during the relevant period.
• Actual occurred: Transactions which have actually occurred have been
recorded.
• Proper Accounts: Transactions is recorded in proper account to the
proper period

4. OBJECTIVES
• To see that transactions & entries are properly recorded in the books of
accounts.
• To see that entries & transactions are properly authenticated by a
reasonable person.
• To see that transactions have been properly classified & disclosed in
accordance with the accounting policies.
• To see that no fraudulent transactions are recorded in books of accounts.
• To see that all entries & transactions are supported by proper evidence

5. VOUCHER
• A voucher is documentary evidence in support of any
transaction in books of accounts. Voucher can
originate within the organization or outside the
organization i.e. they can be internal or external.
• Example: Internal voucher: invoices for purchase &
sale, receipts, counterfoils, slip of bank, etc.

6. TYPES
1.Primary voucher: All written evidences in original are
primary vouchers.
2.Secondary voucher: Copies of original vouchers are
called collateral vouchers.