Discussion
______________ is said to be "the essence of auditing" or may be termed as the "backbone of auditing"
Answer: A
Vouching is called the essence or backbone of auditing. It is the examination of the documentary evidence, such as bills, receipts and invoices, that supports each entry in the books, and it shows that the transaction was authorised, was properly recorded and took place. Verification is about the balance sheet items, investigation is a special inquiry, and forensic accounting is a method of investigating fraud, so they are not given this description.
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