2025 · Q89
In the context of auditing, the primary objective of vouching is:
General Accounting Principles, Auditing and InsuranceRatio analysis
- ATo detect errors in financial statements
- BTo evaluate internal controls
- CTo verify the authenticity of transactions
- DTo assess management performance
Explanation
Vouching is the verification of entries against documentary evidence (vouchers), and its primary objective is to establish the authenticity of the transactions recorded in the books. Detecting errors and evaluating controls are incidental benefits, not the primary objective.