AS 25 Interim Financial Reporting
There is no specification by the AS to prepare Interim financial report in a particular manner - Complete set or condensed. Then, as an auditor how and from where will I come to know hat company has resolved the IFR to be prepared?
An interim financial report should include, at a minimum, the following components: (a) condensed balance sheet; (b) condensed statement of profit and loss; (c) condensed cash flow statement; and (d) selected explanatory notes. This is the minimum requirement. Now if an enterprise prepares a complete set of financial statements, the auditor has to ensure that the complete set of financial statements complies with relevant presentation and disclosure requirements.