02 August 2010
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.
Both the audits are conducted by practising chartered accountants.
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