SAAVEDRA CPA | Review Services

Our objectives in a review engagement are to: (1) obtain limited assurance, primarily by application of analytical procedures and inquiries, as a basis for financial reporting to determine whether we are aware of any material modifications that should be made to the financial statements for them to be in accordance with the applicable financial reporting framework, and (2) report on the financial statements, and communicate, as required by section AR-C 90, Review Engagements. 

We comply with section AR-C 60, General Principles for Engagements Performed in Accordance with Statements on Standards for Accounting and Review Services in review engagements.

Since it is an assurance engagement, we express a conclusion regarding the financial statements based on limited assurance.

We primarily perform analytical procedures and inquiries to obtain sufficient appropriate review evidence to support our conclusion on the financial statements as a whole.

If we become aware of a matter that causes us to believe the financial statements may be materially misstated, we design and perform additional procedures to be able to conclude on the financial statements.

A review requires us to obtain evidence that the financial statements reconcile with the accounting records.

A review for an entity includes a balance sheet, income statement, and a statement of cash flows. A separate statement of changes in retained earnings or net assets is optional. Reviewed personal financial statements include a statement of financial condition, and statement of net worth, if required.

All financial statements include notes to the financial statements per generally accepted accounting principles and the accountant’s review report.

To begin review procedures, we request a balance sheet, income statement, a list of significant accounting policies, chart of account mapping detail, and prior year financial statements, if applicable.