Interim Audit. Now let discuss detail about final and interim audit testing. Interim audit is an audit conducted during the fiscal year usually as a means of minimizing the work and time involved in concluding the audit after the fiscal year.
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Interim audit is normally performed to the part of the client financial statements. However most of the big client required an interim audit. The main object of interim audit is to facilitate payment of interim dividend or for same other particular purpose.
Interim financial information communicated by employees for meremployees regulators orothers.
Doing so benefits the client which can issue its audited financial statements sooner. Interim audit is a part of external audit where an auditor commences audit before the year end. 2016 2017 budget general fund. Interim audit is the way by which the management itself checks whether they are complying with the regulatory requirements or not.
