Independent Review Benefits
- Provide Limited Assuurance
- Compilation of Annual Financial Statements
- Aimed at Small to Medium Enterprises
- Significantly less expensive than Traditional Audit
- Aim: Simplify Regulations
- Prepared with Appropriate Accounting Framework.
Is it a Legal Requirement?
What are the Procedures for an Independent Review?
The procedures performed during a review provide all the evidence that would be required in an audit i.e. Compilation of Annual financial statements. The review engagement procedures are primarily of an inquiry and analytical nature, to obtain sufficient and appropriate evidence to support a limited conclusion on whether the financial statements are prepared in accordance with an appropriate accounting framework. The independent review will be different from an audit.