Audit Notes - BCM601
Audit Notes - BCM601
Audit Notes - BCM601
Tax audit is an examination of your tax return by the IRS to verify that your
income and deductions are accurate. A tax audit is when the IRS decides to
examine your tax return a little more closely and verify that your income and
deductions are accurate.
Misappropriation of Cash
Misappropriation of Goods
Manipulation of Accounts
Misappropriation of Cash
Misappropriation of Goods
Manipulation of Accounts
In firner terms, Vouching implies the act of checking the vouchers, to identify the
authenticity of the transactions recorded. Conversely, Verification alludes to a
process, adopted by the auditor to examine the assets and liabilities.
To a layman, these two processes are one and the same thing, but they are
different. So, here is an article presented to you which attempts to shed light on the
differences between Vouching and Verification, which we have compiled after a
thorough study on the two.