Multiple choice

Audit at the end of the year is called

  1. periodical audit

  2. standard audit

  3. interim audit

  4. continuous audit

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A periodical audit, also known as a final or annual audit, is conducted after the close of the financial year when the final accounts have been prepared. This differs from a continuous audit which happens throughout the year.