Which among the following is not an Audit technique?

Solution

Among the options provided, "Grid Sampling and Recording" is not an Audit technique. The three other options are well-known audit techniques used by auditors during the process of auditing financial statements: Vouching: This involves examining documentary evidence to support the transactions recorded in the books of accounts. Auditors select a sample of transactions and trace them back to the original source documents. Checklists and Test Checks: Auditors use checklists to ensure that all necessary procedures and controls are followed during the audit. Test checks involve selecting a sample of transactions and testing them to assess the effectiveness of internal controls and detect errors or fraud. Notes and Questionnaires: Auditors often use notes to document their findings, explanations, and conclusions during the audit process. Questionnaires are used to gather information from management and employees to assess internal controls and other aspects of the organization's operations. "Grid Sampling and Recording" is not a common audit technique. It may be a less well-known or specialized approach not typically used in mainstream auditing practices.