» Audit & Assurance » Financial Statement Review
A review is a higher level of service than a compilation in the preparation of financial statements. Reviewed financial statements are prepared based on information provided by management, however, a CPA will also perform inquiry and analytical procedures that provide the CPA with a reasonable basis for expressing limited assurances that no material modifications are needed for the financial statements to be in conformity with generally accepted accounting principles.
While a review is a more involved service than a compilation, it does not provide the CPA with a basis for an opinion on those financial statements.
