Acl audit software advantages and disadvanatges

As such, it is not applicable to all types of organisations, especially to small undertakings Disadvantages. it suffers also from certain limitations which are as follows: (i) Costly: This system of audit is expensive. 2 Disadvantages of interim audit: Though this system has some merits.

Figures may be altered in the accounts which have already been audited. Errors are at an advanced stage compared to continuos audits. Helpful For Final Audit 29 Disadvantages of Interim Audit i Financial figures may be altered thereby from ECO 414 at University of Ibada Disadvantages 1. Interim audit is very suitable for large and dynamic type of business organizations. Interim audit is less costly than continuous audit. vii) Dependency Problem Client staff may be dependent upon the interim auditing to solve their accounting problems which may compromise the objectivity of audit staff Advantages/Merits Of Interim Audit.

of interim balance carried forward or even budgeted performance figures to be used to facilitate final audit. i) Proper Planning This will solve the problem of disruption since with proper communication between the directors and auditors, the audit process should not take much time Interim audits entail a lot of note-taking e.g. List 5 disadvantages of an interim audit and Suggest solutions to any four disadvantages you have identified.

Acl audit software advantages and disadvanatges