Post and Vouch Audit
Post and Vouch audit refers to verification of all transactions from book of original entry and its posting in the ledger. The auditor uses different ticks for each aspect of examination like posting, totalling, balancing etc. In conduct of this audit, the auditor verifies the effectiveness of internal control system, if satisfied will resort to test checking of various types of transactions.
This type of audit is suitable for small business organisations and is not advisable for business concerns with large volume of transactions. Practically, this system of audit is no longer conducted due to vast increase in business transactions or due to introduction of merchandised system of accounting or when there is a good system of internal check in operation.