When you’re dealing with a new person, you might be wondering if they’re the real deal. Or maybe you’ve had to vouch for someone else before, and now you’re wondering how it works.
Verification and vouching are both methods of assuring that you are who you say you are, but they’re used for different purposes and have different benefits.
It’s helpful to understand the difference between verification and vouching, because they can be confusingly similar.
The main difference between verification and vouching is that verification is a process used to establish the legitimacy of an individual or organization, while vouching is a process used to establish the legitimacy of an individual’s relationship.
Before we move to the differences, let’s understand what are Verification and Vouching:
- Verification: Verification is the process of determining that an individual is who they claim to be.
- Vouching: Vouching is the process of confirming that an individual’s claims about their identity are accurate.
Now, let’s move to Verification vs Vouching:
Major differences between Verification and Vouching
|Verification uses a third-party source, such as a government ID or credit card statement, to verify an individual’s identity.||Vouching uses an existing relationship between two parties to prove their identities.|
|Verification can be expensive and time-consuming, but it is the most secure method of verifying a person’s identity.||Vouching is less expensive than verification and can be completed quickly, but it poses more risk because there is less information about the person being vouched for.|
|Verification can be done through documents like birth certificates, passports, aadhaar cards and driver’s licenses.||Vouching may be done when someone is applying for a loan, or when they need proof of address for other legal reasons such as getting married or registering to vote by someone giving a reference.|
|The objective of verification is to confirm the ownership, possession, existence, valuation and disclosure of the items appearing on the Balance Sheet.||The objective of vouching is to examine the correctness, validity and completeness of the transactions.|
|In general, verification requires deep observation and that is why auditor himself conducts it.||In general, Vouching is carried out by Audit Clerks or Audit Assistant.|
Note that sometimes, the question might also be asked as “distinguish between Verification and Vouching”.
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It’s important to note that verification and vouching are not the same thing. The main difference between the two processes lies in who is doing the verifying—in verification, an organization or individual (such as an employer) verifies an applicant’s information, while in vouching, someone else (like a relative or friend) does the verifying.
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