Performing an interim review engagement

In this lesson

1. 0:00 Interim review planning and professional standards
2. 1:10 Key inquiries to assess material misstatement risks
3. 2:14 Analytical procedures for interim financial statements
4. 4:06 Reviewing prior year files and accounting policies
5. 5:31 Written representations and management confirmations
6. 6:40 Ethical threats in time-pressured interim reviews
7. 8:10 Safeguards against intimidation and self-review threats

About this lesson

You'll explore the core techniques auditors use—including inquiries of management, analytical procedures, and review of prior year files—to identify material misstatements while working efficiently within the limited assurance framework. The session also walks you through a realistic ethical scenario involving time pressure and competing professional threats, helping you recognise how to maintain audit quality and independence when client demands conflict with proper engagement planning. This video is essential for AA (Audit and Assurance) students preparing for exam questions on interim reviews. You'll learn when and how to apply professional scepticism, what management representations you must obtain, and how to investigate unusual fluctuations in financial data. The practical case study—involving a client seeking a quick interim review to secure bank financing—illustrates the intimidation and self-review threats that can arise in real engagements, and how to address them professionally. By the end, you'll understand not just the technical procedures, but the ethical judgement required to deliver a quality interim review under pressure.

Duration: 10m