Differences Between Continuous Audit
and Annual Audit
Continuous Audit: In case of Continuous Audit,
auditor frequently visits and checks the accounts of the business.
Annual Audit: In case of Annual Audit, auditor
visits the business only once after the close of the year.
Continuous Audit: Audit is conducted periodically
throughout the financial year.
Annual Audit: Audit is commenced only after the
close of the financial year.
Continuous Audit: Client’s staff becomes more
efficient and regular.
Annual Audit: It may not be so because client’s
staff knows well that audit work will start only after the close of financial
year.
Continuous Audit: Each and every transaction is
verified immediately after it is recorded.
Annual Audit: Audit staff checks and verifies the
transactions only after the close of the year.
Continuous Audit: It is very much expensive
Annual Audit: It is less expensive and
economical.
Related Topics
Privacy Policy, Terms and Conditions, DMCA Policy and Compliant
Copyright © 2018-2023 BrainKart.com; All Rights Reserved. Developed by Therithal info, Chennai.