Thursday, June 23, 2011

What is Interim Audit?

Interim Audit:
An interim audit is type of auditing strategy that is normally utilized at some point during the current fiscal year. This type of audit makes it possible to complete at least some of the tasks that are involved with the preparation of a final audit once the fiscal year has closed. The benefit of this approach is that it is possible to provide shareholders and other interested parties with final audit data sooner than if the final audit was commenced after the fiscal year was completed. 

Source: Here

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