UK Accounting Glossary
A substantive test in an audit to check that the underlying records correctly show the nature of transactions entering into by the business being audited.
Vouching is a substantive test in an audit used to check that the underlying records correctly show the nature of transactions entered into by the business being audited.
Many ventures may encounter vouching problems in financing, while credit- vouching operation is an effective approach to solve it.
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This glossary post was last updated: 4th May 2019.