Is Green Pen is Mandatory during the course of Audit on Vouching & Verification........... who should use the green pen......... wat is the importance of Greeeeeeeeen Pen.plz Reply.Thanx in Advance
6 Replies
Pratik K
(Student)
(3406 Points)
Replied 19 July 2009
As per my understanding the Green pen is adopted in general cases as in Accounting most of the accounts were either written under Blue or Black pen.The Green pen in the same case can easily highlight the bills/vouchers or ledgers that they have been vouched or not.
The main purpose is to differentiate the use of pen ink colour by Accounatnt and auditor.
i.e. if you want to use Pink pen,you can.
CA CS Amit Borade
(Chief Accountant)
(2828 Points)
Replied 23 July 2009
There is no any restiction on using Green or Red colour pen... As per my opinion if a company is undergoing Satutory as well as Internal Audit then seperate colour ink pens r to be used by auditors...
In my case I use Green for Statutory Audit & Red for Internal Audit..
Kailash Sharma
(CA- Final Student)
(148 Points)
Replied 24 July 2009
Amit & Pratik both r right.
Its not an Mandate to use this Green Pen in Stat Audit & Red Pen in Int Audit.
Its an Auditing Industry standard which is acceptable by all members of this industry.
Not even green pen we can use any pen but Green Colour sounds good for making Ticks in Vouchers. so we use that.
Aaron
(Audit Senior)
(21 Points)
Replied 05 April 2012
In Audit, I have always used Red Pen for Workpaper referencing and Green pen for vouching and other "key codes" within the workpapers. I use Blue or Black pen for all writing on the workpapers.
As long as you NEVER use pencil, you should be alright, as there is only an auditing standard saying you should not use pencil.
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