Difference between Vouching and Verification
Here are the key differences between Vouching and Verification
| Nature of Difference | Vouching | Verification |
| 1. Nature | In vouching auditor examine the truth of transaction recorded in book of original entry. | Auditor examines the assets and liabilities appearing in the balance sheet of the concern. |
| 2. Basic | Vouching is based only on the documentary evidence. | Verification is based on physical inspection as well as documentary examination. |
| 3. Time | Vouching of books is done for the whole year. | Verification is done at the close of financial period when balance sheet is prepared. |
| 4. Utility | Vouching indicates that particulars assets and liabilities must possess by the concern. | In verification it is certifies that the existence of assets and liabilities at balance sheet date. |
| 5. Scope | Vouching is concerned with the documentary evidence of assets or liability. The question of valuation is not arises in the scope of vouching. | Verification includes valuation in its scope. |
| 6. Personal | Vouching of books of accounts is done by junior audit clerks under the supervision of senior. | Verification is done by the auditor himself or by his assistant. |
| 7. Valuation of Assets | Under vouching the asset and liabilities are not valuated. | Under verification it is ensured that the assets and liabilities are correctly valuated. |
| 8. Object | Under vouching it is ensured the transactions are recorded with the help of documentary evidence which prove the reliability of it. | Under verification auditor satisfy himself as regard to the existence, ownership possession of assets through their physical examination. |
