22 March 2009
For collection and accumulation of Audit Evidence, certain methods and means are available and these are known as Audit Techniques. Some of the techniques commonly adopted by the auditors are follows: 1. Posting Checking i.e. Vouching 2. Casting Checking i.e. Verification 3. Physical Examination and count i.e. Inventory 4. Confirmation i.e. from Debtors & Creditors 5. Inquiry 6. Year end Scrutiny: At the time of Closing Books Auditor can involve in the process & check the major balances. 7. Re-computation 8. Tracing in subsequent period: Auditor can gather his evidence by way of checking the transaction from base to end. 9. Bank Reconciliation
whereas Audit procedure consist of two types of method known as substantive and compliance
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