Difference between Vouching , Verification and Valuation

	Vouching	Verification	Valuation
Meaning	Vouching is a process of comparing the entries in the books of accounts with the bonafide vouchers	Verification is a process which proves the existence, ownership and title to the assets	Valuation is a process which certifies the correct value of the assets and liabilities at the date of balance sheet.
Subject Matter	Vouching is made of the entries recorded in the books of original entry and their posting in the ledger	Verification on the other hand is made of assets and liabilities appearing in the balance sheet at the end of the year	Valuation is also made of assets and liabilities appearing in the balance sheet at the end of the year
By whom	Vouching is done by the senior auditor and audit clerks.	Verification on the other hand is done by the auditor himself or his associates	Verification on the other hand is done by the auditor himself or his associates
When	Vouching is done after the entry of transactions in the account books	Verification on the other is done at the end of the financial year when the final accounts are to be prepared	Valuation on the other is done at the end of the financial year when the final accounts are to be prepared
Evidence	In vouching , bonafide vouchers are sufficient evidence for vouching	Verification is made on the basis of evidence such as the title deeds, receipts and payments etc.	In valuation an auditor has to depend upon the certificates of the owners/directors.

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