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Financial Review



In most cases, a financial review refers to a review of financial statements. According to the International Standard on Review Engagements, the objective of a review of financial statements is to enable a CPA to state whether, on the basis of procedures which do not provide all the evidence that would be required in an audit, anything has come to the CPA’s attention that causes the CPA to believe that the financial statements are not prepared, in all material respects, in accordance with the applicable financial reporting framework (negative assurance). Procedures for conducting a review of financial statements generally are limited to analytical procedures and inquiries. A review can therefore be regarded as a limited scope of audit with limited procedures and assurance.


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A review of financial statements can serve a number of purposes, either to the entity itself or the third party. When a full-scope audit is not necessary, a review provides a cost-effective alternative; when an audit is difficult to perform or the CPA cannot express an audit opinion, a review can provide a basic understanding of the financial information.

Our financial review service can be more flexible in scope and objectives and be tailored to specific requirements of the client. In addition to review of financial statements, a financial review can be extended to related areas such as systems and controls, specific financial issues that the client concerns, and to tax issues. Such a review report can be used as an alternative to financial due diligence report.


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