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arry and Emily, two senior audit managers assigned to the same client are discussing vouching...

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Accounting

image arry and Emily, two senior audit managers assigned to the same client are discussing vouching procedures. Harry, a newer and les xperienced auditor is trying to understand exactly what vouching is, and what it entails. Emily has explained to Harry that for the ient they are preparing to audit, vouching will be a common procedure. Emily explains to Harry that the best way for him to nderstand the procedure is by way of an example. Which of the following choices best describes the example of vouching Emily hould use? Vouching can be used to audit the occurrence of an accounts receivable balance and the existence of the purchase transaction that preceded it. Vouching is typically used to confirm balances in quantitative documents such as spreadsheets, and represents a way of ensuring the mathematical accuracy of such documents. Vouching can be used to audit the existence of an accounts receivable balance and the occurrence of the revenue transaction or transactions that preceded it. Vouching can be used to corroborate the existence of an accounts payable balance with the revenue transaction or transactions that preceded it

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