Question

Out
of Continuous Audit and

Periodical Audit which one

will
you prefer and why?​

Answer 1

Answer:

PLZ MARK AS BRAINLIEST

Explanation:

I will prefer Continuous audit , because it is an audit, which is conducted continuously throughout the year at regular or irregular intervals during the financial year. Periodical audit is an audit, which commences after closing of accounts and preparation of final accounts and is carried out continuously till the conclusion of audit.

Answer 2

Answer:

I would choose a continuous audit over a discrete audit because a continuous audit is one that is carried out constantly throughout the financial year at regular or sporadic times.

Explanation:

I would choose a continuous audit over a discrete audit because a continuous audit is one that is carried out constantly throughout the financial year at regular or sporadic times.

Risk assessments and control checks may be conducted more often thanks to continuous auditing; these processes are most typically employed when a new standard or practise is being adopted. The audit is ongoing, which enables more accurate assessments.

In time-sharing setups that process numerous transactions but leave a scant paper trail, the adoption of continuous auditing techniques can improve system security. Continuous auditing and monitoring can lower the risk of financial loss by identifying errors, and it frequently identifies misuse before the impact on the bottom line is felt.

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