What is the difference between trace and vouch?strong text
When you say to trace is looking for an evidence that something has taking place, but l don't' think the word trace is appropriate to use
When say vouch you look for supporting evidence. Say an asset value in the FS you ascertain the value in the books and the method of depr applied to arrive at the nbv of that asset in the asset register and you
Tracing is matching the source documents withe the accounting records.
Opposite of that (i.e. matching the accounting records with the source documents) is vouching.
When an auditor traces (i.e matches the source document of a transaction with the accounting records), he/she is trying to ensure that the transaction is completely recorded, and when the auditor vouches (i.e. looks for the source documents of a transaction recorded), he/she is trying to ensure that the transaction has actually occurred and/or is accurately recorded in the records.
Hope it helps....