Differences Between Verification And Vouching

Verification is made on the basis of vouching. So, verification is a part of vouching. Even though they have some differences which are as follows:

1. Meaning

Verification is the act of checking title, possession and valuation of assets but vouching is the act of checking the records with the help of evidential documents.

2. Nature

Verification is specially related to the assets and liabilities but vouching is related to all the accounting documents.

3. Person

Generally, assistant staff or auditor performs the work of vouching but auditor himself performs the work of verification.

4. Time

Vouching is made at the beginning of auditing but verification is made at the end of auditing or at the time of checking balance sheet.

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