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CONTINUOUS AUDIT | DEFINITION | ADVANTAGES & LIMITATIONS

CONTINUOUS AUDIT

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.

INTERIM AUDIT | DEFINITION | ADVANTAGES & DISADVANTAGES

INTERIM AUDIT

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

TYPES OF AUDIT | INTERIM , CONTINOUS AND FINAL AUDIT

TYPES OF 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,

BENEFITS OF INTERNAL AUDIT | LIMITATIONS OF INTERNAL AUDIT

BENEFITS 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.

INTERNAL AUDIT | DEFINITION | ESSENTIALS OF INTERNAL AUDIT

INTERNAL AUDIT

What is Internal Audit? Internal audit is an appraisal activity within an organization to review accounting, financial and other operations. Internal audit is a part of internal control. Internal audit is mandatory for listed companies in every country. The management wants to know the effectiveness of accounting and control system.

COMPONENTS OF INTERNAL CONTROL | TECHNIQUES OF INTERNAL CONTROL

COMPONENTS OF INTERNAL CONTROL

What are the components of internal control? As we know that that internal controls are procedures that ensure that transactions are recorded properly and everything is working as per management policies and plans. Let's discuss in detail various components of Internal Control. COMPONENTS OF INTERNAL CONTROL          The various components of internal

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