Review interim financial information

The Securities and Exchange Commission (SEC) generally requires public companies to file quarterly financial information (Form 10-Q). This is also referred to as interim financial information, which describes financial information or statements which cover a period of less than a full year or a 12-month period which does not align with the entity's fiscal year (AS 4105.02).

Note: Each Q1-Q3 interim review should be created as a separate engagement file and rolled forward to create the next quarter’s engagement. The Q4 review of interim financial information will be completed in the same engagement file as the audit.

To set your engagement as a review of Q1-Q3 interim financial information:

  1. Select Quarterly as the Reporting period.

  2. Select SEC Interim (Quarterly) in Select the applicable engagement reporting period under 1-100 Engagement – Acceptance/Continuance.

    The below documents will become visible under the Q1-Q3 interim review phase:

    • QR-100 Interim review work program

    • QR-105 Analytical procedures

    • QR-110 Management representation letter – Draft

    • QR-120 Interim review report – Draft

    • QR-123 Form 10-Q Key disclosure checklist

To set your engagement as a review of Q4 interim financial information, or if this is the audit engagement:

  1. Select Annually as the Reporting period.

  2. If you are performing the Q4 quarterly review, select either Included with the financial statements or Separate interim financial information in the Fourth Quarter Interim Information procedure under 1-200 Engagement set up.

    The below documents will become visible under the Q4 quarterly review phase:

    • QR4-100 Quarterly review

    • QR4-105 Analytical procedures

    • QR4-110 Management representation letter – Draft

    • QR4-120 Quarterly review report – Draft

    • QR4-123 Form 10-Q Key disclosure checklist