Accounting Review

An accounting review involves executing some formal review procedures, but without evaluating the internal control system or executing certain fundamental evaluations in an audit process. Some companies require this type of service, to validate if they are prepared for a formal financial audit, before facing it and submitting to a possible rating or denial of opinion. The limited procedures mean that important aspects in the financial statements or any other financial information may not be considered by the independent public accountant, which is why the levels of security obtained in an accounting review are substantially lower than the resulting from an examination of the financial statements in accordance with generally accepted auditing standards.
 The accounting review can be applied to both financial statements and financial forecasts, information contained in the tax forms and other official formats.