{"id":109621,"date":"2021-02-22T13:52:10","date_gmt":"2021-02-22T08:22:10","guid":{"rendered":"https:\/\/www.vskills.in\/certification\/tutorial\/?page_id=109621"},"modified":"2024-04-12T14:30:41","modified_gmt":"2024-04-12T09:00:41","slug":"analysis-of-records-and-documents","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/analysis-of-records-and-documents\/","title":{"rendered":"Analysis of Records and Documents"},"content":{"rendered":"\n<p>While verifying various transactions, the auditor examines the supporting documents and records. This technique is otherwise called vouching. The purpose of examining the documents and records is to<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>confirm the authenticity (genuineness) of the transaction.<\/li><li>to find whether the transactions and the supporting document are appropriate.<\/li><li>to ensure whether the transactions are authorized (approved).<\/li><li>to ensure whether the classification of the transaction is proper.<\/li><\/ul>\n\n\n\n<p>The auditor goes through the accounting records and documents and if he comes across any unusual transactions, he verifies the same thoroughly. This is called scanning of records, which requires experience and expertise.<\/p>\n\n\n\n<p>How for an auditor can rely on the documents depends on the origin (source) of the documents and the efficiency of the internal control system in operation.<\/p>\n\n\n\n<p>Documents which have their origin in the hands of the third parties and held by third parties are more reliable than the documents which have their origin in the organization itself and held by the organization. One can classify the documents into 4 major categories according to their origin and availability.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Documents which have their origin in the hands of the third party and held by them \u2013 Most reliable evidence.<\/li><li>Documents which have their origin in the hands of the third party and held by the organization \u2013 More reliable.<\/li><li>Documents which have their origin in the hands of the organization and held by the third party \u2013 Reliable.<\/li><li>Documents which have the origin in the hands of the organization and held by the organization \u2013 Reliable only if the internal control is effective.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Physical Verification<\/h3>\n\n\n\n<p>If an item can be measured in physical term, the same may be verified for quantity and quality (if possible). By physical examination, the auditor ensures the availability of the item. However, the ownership of the items cannot be verified through this method.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">HR Audit and Record Analysis<\/h3>\n\n\n\n<p>An auditor scrutinizes and analyses various records and documents such as annual reports, employee records, training documents, performance appraisal forms, in house journals and periodicals etc. such scrutiny reveals strength and weaknesses of HR functions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Analysis of Secondary Data<\/h3>\n\n\n\n<p>Analysis of secondary data can give lot of insights into the HRD assets and liabilities of the company. For example, in a company that had about 50 HR people only two were found to have the required technical training in HRD area. When an analysis of the training programs attended by others was carried out, it was found that a large number of them did not attend any HRD program in the last five years. Such analysis of secondary data can throw up many insights. Analysis of age profiles of the employees, analysis of the training attended, analysis of the minutes of the meetings held etc., help in determining the assets and liabilities. Such an analysis should also pay attention to the costs incurred by the company in terms of maintaining the HRD infrastructure, etc.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Analysis of Reports, Records, Manuals and other Published Literature<\/h3>\n\n\n\n<p>Published literature of the company including annual reports, marked hand-outs, training calendar, personnel manual, and various circulars issued from time to time are also likely to help immensely in assessing the strengths and weaknesses of HRD.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While verifying various transactions, the auditor examines the supporting documents and records. This technique is otherwise called vouching. The purpose of examining the documents and records is to confirm the authenticity (genuineness) of the transaction. to find whether the transactions and the supporting document are appropriate. to ensure whether the transactions are authorized (approved). to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-109621","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Analysis of Records and Documents - Tutorial<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vskills.in\/certification\/tutorial\/analysis-of-records-and-documents\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analysis of Records and Documents - Tutorial\" \/>\n<meta property=\"og:description\" content=\"While verifying various transactions, the auditor examines the supporting documents and records. This technique is otherwise called vouching. 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