The purpose of this study was to assess the perception and practice of continuous assessment in EFL speaking classes at Injibara Secondary and Preparatory School grade eleven students in focus. The method of the study was descriptive survey research. The participants in this study were 90 students which were taken by random sampling method out of 600 students, and 4 English teachers of grade 11 which were taken by comprehensive sampling method in academic year of 2017/2018. Data were collected through questionnaire, observation, interview, and document analysis. Frequency, percentage and mean were used as the main method of analysis for quantitative data, and the information gained from observation, interview, and open ended questionnaire was analyzed qualitatively using word interpretations. The findings of the study indicated that teachers and students have positive perception towards the usefulness of CA; however, it is not properly practiced in EFL speaking classrooms due to the existing factors: a) lack of specific assessment criteria to assess students’ speaking skill, b) the influence of traditional assessment system, c) large class size, d) large volume of text book e) weak follow up, support and feedback system, f) lack of language teaching resources and language laboratory, g) lack of students’ interest and motivation. Finally, it was recommended as the school and the government should make an effort to minimize the challenge of large class size by expanding more classes, by fulfilling conducive school facilities and employing adequate teachers. Also for the successful outcome of assessment careful keeping of accurate records and giving feedback for each student independently is vital, so training should be given to the area in which teachers create awareness and capacity building on how to keep records and provide feedback in EFL speaking classrooms.