Question

………………. Is a kind of audit is conducted between two annual audits

Q: Answer- ………………. Is a kind of audit is conducted between two annual audits

Solution An interim audit is a review of a companys books of accounts that takes place between two annual audits. Its also known as a periodical audit. It involves preliminary audit work conducted prior to the financial year-end of a company, usually covering six or nine months. Conducting interim audits proves to be highly beneficial to both auditors and the company, especially reporting timeliness, given that interim audit tasks reduce significant work at year-end for the final audit.