Engagement
Interim review
Limited assurance between year-ends when a lender, board, or parent asks for mid-cycle comfort without a full statutory audit.
Purpose
An interim review applies inquiry and analytical procedures to interim financial information. It does not produce a full audit opinion. Boards and lenders often request it after a large acquisition, covenant amendment, or when a parent needs mid-year numbers they can defend.
Included
- Analytical review of revenue, margin, and working capital movements
- Inquiry with management on unusual fluctuations and related-party balances
- Limited testing of material journal entries around the interim date
- A review report describing the limited assurance obtained
Excluded
Inventory observation, extensive receivable confirmations, and deep control testing belong to the statutory audit. If those procedures become necessary, we will say so before expanding the engagement.
Next step
Share your interim close date and the reader of the report (bank, board, or parent). We reply with a short scope note and fee range — contact the practice.