Assurance

The audit provides the highest levels of assurance. In an audit, your CPA obtains sufficient information to express reasonable assurance on the fairness of presentation of your financial statements. The auditor will pull source documents, send confirmations on cash and debt balances, walk through your internal controls, etc.

During a review engagement, your CPA will collect and evaluate less evidence than during an audit. Therefore, the level of assurance is lower. In a review engagement, your CPA will offer you limited assurance about the reliability of your financial statements. 

​

This means your CPA is not aware of any material modifications that should be made to your company’s financial statements. In a review, your CPA will take more of an analytical approach to the numbers.

As required by the AICPA, accounting firms are required to have a peer review every three years promote and enhance quality in the accounting and auditing services provided by CPA firms. 

Our firm is qualified to provide both engagement and system peer reviews.  We can also assist with corrective action and implementation plans.