One of the required tasks that auditors do in performing audit engagements is vouching. In my definition, vouching is a term used for inspecting the documents. Well as auditors, we need to understand the systems used, the processes and procedures done, the internal controls in place, the business systems, among others.
After being able to understand the processes, we will now identify the controls that the Company used in order to safeguard its assets and to detect fraud and error. We call these controls as attributes of our testing. Once we established our attributes, we will now test the documents supporting the transactions (e.g., inventory movements, cash deposits, etc.) based on the samples selected.
Well yeah audit is pretty challenging and toxic. But you've got to learn many things when doing an audit especially when you are exposed to different industries ranging from banks to healthcare institutions.