Review

Review

A review provides limited certainty for the information contained in the financial statements.

A review typically involves an analysis of accounting data, a review of internal controls, and an assessment of whether or not additional information or corrections are needed. A review is based primarily on information provided by management. A review does not provide the same certainty as a full audit, but it can still provide valuable insight into the financial condition of the company.

When are reviews used?

A review is used when a company or its stakeholders need an independent assessment of financial statements. This can be a more cost-effective way for smaller businesses to receive some assurance that their financial statements are accurate. It is often used, when there is a moderate need for trust from external parties, such as banks, owners or potential investors.

Review statements are primarily used by smaller companies, please read more under audit statements.

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