Reviewed Financial Statements

Reviewed Financial Statements give a slightly lower assurance to a bank or state or whomever is requiring you to have verified information for a loan or to keep a license with the State or Federal Government.

In a review, we are not required to go out to a client's office and look at original documentation or samples of documentation to verify that the numbers are correct and true on a client prepared financial statement. What is required, and the banks know it, is to get an understanding of the business we are issuing a review on and perform analytical procedures on those numbers. What analytical procedures mean is,

Also required in a review is to present notes to the financial statements, which explain where revenues come from, how expenses are presented, what loans a company has and how long they will be on the books for and what interest rates they are at.

Many other aspects of a reviewed financial statement are.