Continuous Audit | Advantages of Continuous Audit | Disadvantages of Continuous Audit

 Continuous Audit

The Audit which is conducted throughout the accounting year is called a continuous audit. Advantages and Disadvantages of Continuous Audit are given below.

Continuous Audit | Advantages  of Continuous Audit | Disadvantages of Continuous Audit

 Advantages Of Continuous Audit

→Thorough Audit

→Utilization of audit staff

→Quick Preparation of Final Accounts

→Check on Employees

→ Latest Accounts For Investors

→Early Dividends to Shareholders

→Prevents Frauds and Errors

→Familiarity with Clients Business

These are the Advantages of the continuous audit.

Now let Discuss the disadvantages of continuous audit

Disadvantages of continuous audit

 →Continuous Audit is expensive because you have to conduct this throughout the year.

→The audit report is coming in installments. sometimes the person who is referring audit report misses certain points.

→ A big disadvantage of the continuous audit is errors and frauds in books already checked

→A major disadvantage of the continuous audit is disrupted accounts work because every time auditor comes he asked for the vouchers, he asked for the documents, and the accounts department disturb every time.

→Undue reliance on auditors

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