Issuance of receipt for lesser amounts than amount actually received. Internal check 2. The auditor should ensure that no receipt or payment of cash is unrecorded in the cash book and no fictitious payment has been entered in it. Cash received from customer not recorded in books and no cash receipt may be issued. Objective of vouching cash book : To find out that all expenses & receiptsrecorded To find out that all expenses & receiptsshown under the correct head. VOUCHING OF CASH. The auditor in vouching cash payments or credit side of Cash Book should ensure that payments are made for the purpose of business, payment relates to the period under audit, payment is properly sanctioned and recorded, payment has been made to the right person, and payment is properly supported by a voucher and same as entered in Cash Book. book. Vouching of cash transaction is the most important job of an auditor. An auditor should examine and understand the system and should pay attention in the following points. 1) All vouchers relating to cash payments should be serially numbered and properly arranged. In vouching cash books, the checking of cash receipts is more difficult than cash payments; Vouching of cash receipts 1. General Guidelines to Auditors in vouching of Cash Receipts - From article at https://accountlearning.com/vouching-of-cash-receipts-general-guidelines-to-auditors/ The State of Florida’s Auditor General conducted a performance audit of various aspects of the District’s operations, which included a review of the internal controls over its cash receipts process. Auditor should vouch the transaction in the following manner: 1. 2) He should insist that the vouchers are properly dated. 2. Vouching of cash book Cash book is a very important financial book for a business concern. 3. TRANSACTIONS INTRODUCTION A cash book important book of account In cash book receipts and payment recorded. Routine checking covers the checking of every carry forward, posting to ledger account and balancing of account. Mostly errors and frauds arise in connection with receipts and payments of cash by making its misappropriation, wherever possible. Verify entry in Cash Book with reference to … Vouching includes routine checking which is a mechanical checking, whereas vouching is made on the basis of documentary evidence. Assurance: Vouching is the crux of auditing, wherein the auditor confirms that transactions that actually occurred are properly recorded, in the appropriate account, with exact amount and in the relevant accounting period. The entries related to cash book should be checked with various supporting evidence documents. While vouching cash payments, an auditor should pay attention to the following points. Vouching of Cash received from Debtors. Verify Cash receipt or memo with respect to date of receipt, amount and name of customer from whom received. Before setting the program of vouching, an auditor should inquire carefully into whole system of internal control. Vouching and Routine Checking. Comparison of the rough cash book with the cash. Vouching of cash payments or credit side of the cash book. These cash receipts are processed by staff in the Finance Bureau. Vouching of cash receipts Internal check Comparison of the rough cash book with the cash book.
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