Financial Statement Review
Offering A Limited Level Of Assurance
A financial statement review is less extensive than a full CPA audit, but more involved than a compilation. As a result, it's a good middle ground for many organizations. A financial statement review provides you with the advantages of a CPA's technical knowledge and experience without the work and expense of a full-scale audit.
LBA Haynes Strand's financial review involves two main areas of investigation:
- Analytical procedures we apply to your financial statements
- Inquiries we make of your company's management team
If your financial statements or the supporting information seem inconsistent or otherwise questionable, your LBA Haynes Strand audit professional may need to examine your financial situation and internal controls in greater detail.
Once the financial review is complete, LBA Haynes Strand issues a report expressing limited assurance in the form of the statement: "We are not aware of any material modifications needed for your financial statements to conform with Generally Accepted Accounting Principles (GAAP)." The Review report is not an opinion but rather limited assurance against material modification in the financial statements.