Education

Having fixed up the audit scope and gained knowledge over the business, accounting and internal control system, the auditor needs

Interim audit is such an audit, which is conducted for a part of the year with some interim purpose, for

Continuous audit or running audit is such an audit where the auditor examines the accounting records throughout the year. The

Final audit is one, which is taken up at the close of the financial period when all the accounts have

Difference between accounting and auditing are as under: Accounting vs Auditing Basis for comparison Accounting Auditing 1. Meaning Accounting is

Auditing principles: The principles of auditing are not finely developed as the principle of accounting. However, certain fundamental principles of

Auditing in the ordinary sense means the official examination of accounts. It is checking of the accounts of the business

Advantages of Audit: Irrespective of the fact whether audit is compulsory, statutory or voluntary, it has a number of advantages