What are Review Engagements?
Conventional review engagement provides a negative assurance report and gives a moderate level of assurance on the reliability of the financial information of a business. While complying with the conventional standards, the objective of our review engagement is to evaluate your firm's financial information against a comprehensive review model. Our model consists of financial enquiry, application of analytical procedures, and discussion. This approach comprehensively pursues financial statement and even provides a clean review engagement and a clear financial slate for your business.
Does HENDRICKS & ASSOCIATES, CPA, CGAs offer Review Engagements?
HENDRICKS & ASSOCIATES, CPA, CGAs accounting and financial services is a team of dedicated professionals with a solid foundation in Accounting, Taxation Financial Planning, and Business Knowledge. We partner and guide you in the financial sphere in absolute confidentiality and financial integrity. Our expertise in summarizing financial statements into precise review engagements helps achieve optimum financial growth. Our review engagement is cost-effective and aims to provide assurance on financial statements. It is an ideal alternative for the expensive assurance provided by an audit.
What is involved in a Review Engagement?
Our review engagement enables a comparison of current performance of your business with past performance or even with your competitors' business performance. You can not only compare the sales revenue and net income of your business for the preceding financial years, but can also get a clear understanding of your business' performance and its direction. Our review engagement also enables a comparison with your competitors' business model. This complete business picture helps you identify your business' critical areas that need your attention and accordingly focus and improvise on them. This empowers you to leverage your business' position to your advantage and achieve highest potential of your business. Our review management indicates the profitability and field effectiveness of your company vis-à-vis your competitors. You can gauge the financial health of your business at the first glance, chalk out and adopt appropriate business strategies and scale up.
What Accounting Standards are applied to Review Engagements?
At your service are our team of dedicated Certified Accountants, who review the financial statements and related historical or prospective financial information of your firm strictly in accordance with the established professional standards. Diligent application of stringent principles of our review engagement determines the plausibility of the financial information and ensures:
Conformity of all material aspects with the requirements of professional standards
Adherence of working paper documentation to the Statements on Standards for Accounting Review Services (SSARS) Statements on Standards for Attestation Engagements requirements (SSAES)
Elimination of incorporating any unfair financial information that is not in accordance with Generally Accepted Accounting Principles (GAAP)
What are the advantages of using our review engagements and what do they include?
Well, to start with, it gives an overall review of the financial statements and highlights specific area or areas such as a grant-funding body or a bank. Secondly, it helps you deliver a quicker yet cost-effective solution as compared to a conventional audit. This in turn helps you to stay ahead of competitors and achieve better financial returns. Finally, all this helps in providing cost-effective financial solutions for you.
Our review management accurately summarizes financial statements of your business. We assess plans, document, and report financial statements just the right way. Entrusting us with this part of your business allows you to focus on your other business' critical areas. |
