FINANCIAL STATEMENT REVIEWS
FINANCIAL STATEMENT REVIEWS
CPA Reviewed Financial Statements
If your organization needs a level of assurance beyond basic financial statement compilation but doesn’t require a full-scale audit, a financial statement review may be the right choice. CKH Group’s professionals assess your financial statements to identify any material misstatements or inconsistencies, providing limited assurance to stakeholders.
As a leading CPA firm based in Atlanta, we take pride in offering Financial Statement Reviews designed to:
- Give you peace of mind
- Reduce risk or costly errors
- Provide timely and efficient results
What Is A Financial Statement Review?
A Financial Statement Review is a limited assurance review report on whether the financial statements comply with the applicable financial reporting framework. Financial statement reviews are subject to Statements on Standards for Accounting and Review Services by the AICPA. A review does not require the accountant to obtain an understanding of internal control, or to assess fraud risk, or other types of audit procedures.
Financial Statement Audit vs. Review vs. Compilation
These three different types of engagements can be easily confused. The simplest way to breakdown the difference between an audit, a review, and a compilation is the level of assurance provided, with audit being the highest, and compilation being the lowest. A financial statement review falls somewhere in between, and based on hours worked and the complexity involved compared to audits, it can be a less expensive option for businesses whose investors and borrowers are satisfied with this type of engagement instead of performing a full audit.
When Is a Financial Statement Review Required?
Although there are no state or federal laws requiring reviewed financial statements, there may be grantors or lenders that require it as part of the grant or loan agreement. Regardless of requirement or not, all businesses can benefit from an external expert identifying deficiencies or areas of improvement as a result of reviewed financial statements. A financial statement review can provide a level of comfort that the business’s financial position is accurately represented.
Why Choose CKH Group?
CKH Group’s Assurance Services are designed to empower organizations with confidence in their financial reporting and decision-making.
With CKH Group, you’re not just getting a CPA firm; you’re gaining a trusted partner committed to your success. Discover the CKH Group advantage, where excellence, integrity, and expertise come together to create a powerful assurance partnership for you. Contact us today to explore how our External Audits can add value to your organization.
