CONTINUOUS AUDIT
AUDITING

CONTINUOUS AUDIT | DEFINITION | ADVANTAGES & LIMITATIONS

What is Continuous Audit? An audit staff may carry audit work for the whole year with equal or unequal intervals. The large-scale companies require constant review of their business matters. The monthly or quarterly progress can be checked through audit There may be a declaration of dividend during the year. In this case, accounts are […]

INTERIM AUDIT
AUDITING

INTERIM AUDIT | DEFINITION | ADVANTAGES & DISADVANTAGES

What is an Interim audit? It refers to an audit conducted on a particular date within an accounting period. In large-scale business concern, the performance may be checked for a particular part of the year. Depending upon the amount of work the auditor may check the figures of a month or a quarter. The verification […]

TYPES OF AUDIT
AUDITING

TYPES OF AUDIT | INTERIM , CONTINOUS AND FINAL AUDIT

What are the types of Audit? Audit means checking the accounts prepared by others with a view to opinion. An auditor is appointed to go through the accounting and other records. He can submit his written report about the accuracy or books when legal and other formalities have been followed, The report may be clean. […]

BENEFITS OF INTERNAL AUDIT
AUDITING

BENEFITS OF INTERNAL AUDIT | LIMITATIONS OF INTERNAL AUDIT

What are benefits of Internal Audit? As we know that internal audit includes, amongst other things, examining, evaluating and monitoring the adequacy and effectiveness of the accounting and internal control systems. The various benefits of internal audit are discussed as below;- BENEFITS OF INTERNAL AUDIT The important benefits of internal audit are as under;- 1. PROPER ACCOUNTING […]