Maintenance of system vouchers

This query is : Resolved

Akash Deep (Querist)
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23 December 2008 Dear all

We as a auditor, whether should we be satisfied if the client is maintaining all the vouchers in system and not taking its print outs...also they are having scanned copy of quotaions etc. in system and nt hard copy....whether should we satified..

Thanx in advance

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
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23 December 2008 No, all expenses should be approved and signed by the person duly authorised in this regard. Aa such hard copies need to be preserved and maintained in a file.

Moreover, before passing an entry the same should be duly authorised by a voucher while soft copy of the voucher is generated after the entry is passed in the system