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  4. Independent Review

Independent Review Services

Cost-effective review engagements providing limited assurance on financial statements for businesses not requiring full audits

Credible Financial Reporting Without Audit Costs

Not every business needs a full audit, but many still require some level of independent assurance on their financial statements to satisfy lenders, investors, or other stakeholders. Our independent review services provide a cost-effective middle ground between basic compilation services and full audit engagements.

An independent review involves analytical procedures and inquiries that provide limited assurance that financial statements are free from material misstatement. While reviews don't provide the same level of assurance as audits, they offer significantly more credibility than unreviewed financial statements at a fraction of the cost.

Our experienced review team conducts thorough analytical procedures, makes appropriate inquiries of management, and applies professional judgment to identify any matters that would cause us to believe your financial statements require material modification. We communicate clearly about the nature and scope of our review work, ensuring you and your stakeholders understand the level of assurance provided.

Our Review Services

Comprehensive review engagements tailored to your assurance needs

Financial Statement Reviews

Independent review engagements providing limited assurance on annual financial statements, offering credibility without the cost of a full audit.

Interim Financial Reviews

Periodic reviews of interim financial statements to provide stakeholders with timely assurance on financial performance throughout the year.

Management Account Reviews

Review of management accounts and internal financial reports to enhance reliability and support decision-making.

Special Purpose Reviews

Customized review engagements for specific purposes such as grant compliance, loan covenants, or investor requirements.

Pre-Audit Reviews

Preliminary review services to identify potential issues before full audit engagements, reducing audit costs and surprises.

Regulatory Compliance Reviews

Reviews focused on compliance with specific regulatory requirements for entities not requiring full statutory audits.

Who Benefits from Review Services?

Independent reviews are ideal for various business situations where assurance is needed without full audit requirements

Growing Businesses

Companies that have outgrown basic compilation services but don't yet require full audits.

Lender Requirements

Businesses whose banks or lenders require some level of assurance on financial statements.

Investor Confidence

Organizations seeking to provide investors with credible financial information without audit costs.

Non-Profit Organizations

NPOs that need assurance for donors and grantors but aren't required to have audits.

Why Choose BVA for Review Services?

Our review services are conducted by experienced professionals who understand both the technical requirements of review engagements and the practical needs of businesses. We apply the same rigorous professional standards to reviews as we do to audits, ensuring quality and credibility.

We communicate clearly throughout the review process, explaining our procedures, findings, and conclusions in plain language. Our goal is not just to issue a review report, but to help you understand your financial statements better and identify opportunities for improvement.

Key Benefits

  • Cost-effective alternative to full audit engagements
  • Limited assurance that enhances financial statement credibility
  • Faster turnaround times compared to audits
  • Suitable for businesses not legally required to have audits
  • Meets lender and stakeholder assurance requirements
  • Professional review by qualified accountants

Review vs. Audit: Understanding the Difference

Independent Review

  • Provides limited assurance
  • Uses analytical procedures and inquiries
  • Less extensive than an audit
  • More cost-effective
  • Faster turnaround time
  • Suitable for most stakeholder needs

Full Audit

  • Provides reasonable assurance
  • Includes detailed testing and verification
  • More comprehensive procedures
  • Higher cost
  • Longer engagement period
  • Required for certain entities by law

Why Choose BVA for Review Services?

Our review services are conducted by experienced professionals who understand both the technical requirements of review engagements and the practical needs of businesses. We apply the same rigorous professional standards to reviews as we do to audits, ensuring quality and credibility.

We communicate clearly throughout the review process, explaining our procedures, findings, and conclusions in plain language. Our goal is not just to issue a review report, but to help you understand your financial statements better and identify opportunities for improvement.

Whether you need an annual review to satisfy lender requirements or periodic reviews to support management decision-making, we provide responsive, professional service that delivers value beyond the review report itself.

Need Independent Review Services?

Contact us to discuss your review requirements and how we can provide cost-effective assurance on your financial statements.