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Question 340 - IIA-CIA-Part2 discussion

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Which of the following best describes the manual audit procedure known as vouching?

A.
Testing the validity of information by following it backward to a previously prepared record
Answers
A.
Testing the validity of information by following it backward to a previously prepared record
B.
Testing the accuracy of the control by reperforming the task or process required
Answers
B.
Testing the accuracy of the control by reperforming the task or process required
C.
Soliciting and obtaining written verification of the accuracy from an independent third party
Answers
C.
Soliciting and obtaining written verification of the accuracy from an independent third party
D.
Testing the completeness of information forward from a record to a subsequently prepared document
Answers
D.
Testing the completeness of information forward from a record to a subsequently prepared document
Suggested answer: A

Explanation:

Vouching is a manual audit procedure where the auditor tests the validity of transactions or records by tracing them backward from the final records to the original source documents. This technique helps verify the authenticity and accuracy of the entries in the accounting records by ensuring that each entry is supported by proper documentation. For example, an auditor might start from an entry in the general ledger and trace it back to the original invoice or receipt to ensure its validity.

Reference: IIA Global Technology Audit Guide (GTAG) on Understanding and Auditing Big Data IIA Standard 2310: Identifying Information

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asked 18/09/2024
Flamur Kapaj
44 questions
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