While the compilation report offers no assurance, the review report offers limited assurance. With a review report, our CPAs will review and inquire about your financials. We’ll make inquiries concerning the accounting principles and practices used by your business. We will also conduct analytical procedures to understand your prior-year and current-year balances.
In most instances, a review will satisfy the needs of potential buyers, lenders, and investors. These reports can be helpful in obtaining smaller business loans or lines of credit. At the same time, businesses can utilize the review as a way to reduce challenges associated with the first-year audit.