Difference between Continuous Audit and Balance Sheet Audit are given below: Continuous Audit: Nature: Here the auditor or his staff is, constantly ...

The effect of disadvantages listed above may be minimized by adopting certain safeguards as follows: The auditor can guard himself against tempering of ...

Advantages of Continuous Audit Continuous audit is useful in : Early detection of frauds and errors : Detailed and exhaustive checking of accounts leads to ...

According to Spicer and Pegler, "a final or completed audit is commonly understood to be an audit which is not commenced until after the end of the financial ...

Various modes of creating a charge by bank are: Pledge: Pledge is said to be a bailment of goods as security for payment of a debt or performance of a ...

Loan and Overdraft: Loan is defined as a financial arrangement, in which bank provides an advance to the borrower. On the other hand, overdraft is an ...

Right of general lien is one among the many rights that the bank enjoys and it is said to be one the most important rights. A right of a person to retain ...

Rights of a Bank: Right to close the account: The bank has the right to close the account if it is not operated properly by sending a written intimation to ...

Pledge and Hypothecation: Pledge is a bailment of goods as security for payment of a debt or performance of a promise whereas hypothecation is a mode that ...

On the basis of the extent of their authority, agents may be : General agent: A general agent is one who is employed to transact all acts which are ...