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difference between concurrent audit and continuous audit
plz explain me difference between concurrent audit and continuous audit.
Replies (8)
Concurrent audit is performed at predecided intervals by the management according to their requirement. For example; at the end of every month; the auditors' team would come and they will conduct audit. Continuous audit is performed regularly i.e. almost every day it is conducted. This is required where transactions are voluminous and there is threat of losing controls.
I think both are same concurrent audit term we use for bank audit other than that continuous audit are used.
Yes in practically both r same.... In theoretical little bit difference
thx sir
No one is sir here... We r also students 😀😀
exactly....
good and correct information
Concurrent audit is performed at predecided intervals by the management according to their requirement. For example; at the end of every month; the auditors' team would come and they will conduct audit. Continuous audit is performed regularly i.e. almost every day it is conducted. This is required where transactions are voluminous and there is threat of losing controls.
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