Purpose: The purpose of this research is to investigate the relationship between implicit and final audit on the delay of the auditor's report, resubmission of financial statements and audit fees.
Research method: The method of this research was panel data and principal component analysis. For this purpose, 103 companies from the companies admitted to the Tehran Stock Exchange during the years 1391 to 1401 were selected and analyzed.
Findings: The findings of the research hypotheses test indicate that conducting implicit audits helps to reduce the delay of the audit report. This result shows that final audits can be completed more efficiently when interim audits are conducted in the same period. In addition, the decision to audit interim reports is not related to the lower risk of re-examination of annual reports, so the lower risk of re-examination in turn does not indicate more effective final audit results. Also, the audit fee is higher for companies whose interim financial statements are reviewed by their statutory auditor.
Conclusion: In the end, the results of this study show that interim audits can improve the final audit, which highlights the value and importance of continuous audit.