Verifiability in accounting is only possible when there are?

Verifiability in accounting refers to the ability to confirm the accuracy and reliability of financial information presented in accounting records. This is only possible when there are source documents available to support the transactions recorded. Source documents provide evidence of the occurrence of a transaction, such as a sales invoice or a purchase receipt. For example, if a company records a sale of a product, the verifiability of this transaction would depend on the existence of a sales invoice that can be traced back to the customer. Without the sales invoice, it would be difficult to confirm the occurrence of the sale and the accuracy of the recorded revenue. Payment vouchers and minutes of meetings may provide additional evidence to support the occurrence of a transaction, but without source documents, it would be difficult to verify the accuracy and reliability of the financial information presented. Audit certificates, on the other hand, are issued by independent auditors after conducting an audit of the company's financial statements. While they provide assurance on the accuracy of the financial information presented, they are not the only means of achieving verifiability in accounting. Source documents remain a critical element in verifying the accuracy and reliability of financial information.