Monthly Auditing Vs Yearly Auditing: Which One Is Better?

[Good-Person]

Auditing is a very crucial process in any kind of organisation. This is why it is emphasised a lot in many businesses and corporations. There are many businesses that perform auditing task during the end of the month. Some of the companies perform auditing task at the end of the year as well. So, which one if much better?

 

[Ernestnari]

I prefer monthly auditing. It helps the firm to monitor the progress of tye business and fix issues quickly before they generate. With yearly auditing, they might be leakages in the company's finance that by the time auditing is done at the end of the financial year has caused the company so much damage.

 

[Kane]

In our home country, every business that is registered in VAT has to do monthly auditing as well as yearly auditing. If you do not do monthly auditing for your business registered for VAT, you will have to pay penalties.