Financial Statement Reviews

Limited assurance engagements providing a moderate level of confidence that financial statements are free from material misstatement.

Overview

A cost-effective level of independent assurance on the financial statements.

AsuraTrust provides financial statement review services, designed to offer small and mid-sized businesses the option of a cost-effective level of assurance. By utilizing analytical procedures and targeted inquiries, we identify unusual trends, confirm the plausibility of reported financial results, and strengthen confidence in the accuracy of your financial statements, without the time and expense of a full scope audit.

Whether you’re looking to satisfy lender or investor requirements, or want a financial statement review for best practices, our Firm is here to help. Schedule a consultation today.

Engagement details

How our reviews are performed, and what the engagement covers.

01

When you need it

Commonly required by lenders, investors, and third-parties seeking moderate assurance.

02

Value

Cost-effective alternative when a full audit is not required.

03

How we work

Our reviews are conducted in accordance with Statements on Standards for Accounting and Review Services (SSARS) promulgated by the AICPA.

04

Scope

Review procedures primarily include targeted inquiries and substantive analytical procedures.

Who it’s for

The stakeholders who most often rely on reviewed financial statements.

Lenders

Banks & other lenders

Reviewed financial statements are a common requirement of loan agreements when a full audit isn’t called for. A review provides lenders with independent, moderate assurance over reported results.

Owners

Owners, partners & investors

A review strengthens confidence in the financial statements for owners and outside stakeholders — an independent check on reported results without the time and expense of an audit.

Growth

Growing businesses

For companies approaching assurance requirements for the first time, a review is a common first step — building reporting discipline and stakeholder confidence ahead of a potential future audit.

Review vs. compilation

Neighboring services on the assurance spectrum — the difference is whether assurance is expressed at all.

Review
Compilation
Level of assurance

Limited assurance — a moderate level of confidence that the financial statements are free from material misstatement.

No assurance is expressed on the financial statements.

Procedures performed

Primarily targeted inquiries of management and analytical procedures applied to the financial statements.

Financial information provided by management is presented in financial statement form, without performing verification procedures.

The report

A review report concluding whether the accountant is aware of any material modifications that should be made to the financial statements.

A compilation report identifying the financial statements and stating that no opinion or assurance is expressed.

When it’s the right fit

Lenders, investors, or other third parties want independent assurance below the level of a full audit.

Stakeholders need professionally prepared and presented financial statements, with no assurance required.

Considering a review?

Connect with us to discuss how our services can provide the support you need.

Schedule a Consultation