Interim Audit. 2021 overview for parents. Interim audit is a part of external audit where an auditor commences audit before the year end.
So for a company having an year end in december auditor may commence work in september to reduce work pressure at year end. An interim audit is type of auditing strategy that is normally utilized at some point during the current fiscal year. Now let discuss detail about final and interim audit testing.
This is based on the audit strategy.
The interim audit tasks are conducted in order to compress the period needed to complete the final audit. Interim audit is normally performed to the part of the client financial statements. The main object of interim audit is to facilitate payment of interim dividend or for same other particular purpose. This work will help the auditor to reduce audit works at the year end or at the final audit.
