Auditing and Assurance

Auditing and assurance pages explain the vocabulary used when someone tests whether accounting records and reports can be trusted. The section connects evidence, materiality, documentation, and assurance work back to the underlying accounting system.

Use this section when the question is no longer just “what was recorded?” but also “can the number be supported, traced, and reviewed?”

Start Here

• Materiality
• Audit Trail
• Vouching
• Internal Control
• General Ledger
• Trial Balance

In this section

• Audit Trail
  Sequence of source documents, approvals, system records, and ledger evidence that lets users trace a transaction from origin to reporting.
• Materiality
  Threshold concept used to judge whether an omission or misstatement could influence the decisions of financial-statement users.
• Vouching
  Audit procedure that starts with an accounting entry and works back to source documents to test whether the recorded transaction is genuine, accurate, and authorized.