AU-C section 930, Interim Financial Information, addresses the auditor's responsibilities when engaged to review interim financial information under the conditions set forth in this standard. A review of interim financial information under this standard is a distinct service, apart from either an audit of financial statements under generally accepted auditing standards (GAAS) or a review conducted under the Statements of Standards on Accounting and Review Services (SSARS).

A review of interim financial information is far more limited in its objectives than a financial statement audit under GAAS. It leads to the expression of a conclusion about whether the auditor is aware of any material modifications that should be made to the interim financial information in order for it to be in accordance with the applicable financial reporting framework, but not to an opinion. A review of interim financial information consists principally of performing analytical procedures and inquiries, and does not contemplate many of the procedures ordinarily associated with an audit.

After taking this course, the reader should be able to:

• Recognize situations in which AU-C section 930, Interim Financial Information is applicable
• Define characteristics of a review of interim financial information that distinguish it from engagements under other standards
• List analytical procedures and inquiries that are normally performed in connection with a review of interim financial statements
• Describe the requirements for reporting under various circumstances in a review of interim financial information