Review Engagements

A limited assurance engagement on your financial statements, in accordance with CSRE 2400.

In a limited assurance engagement, the CPA primarily performs inquiries and analytical procedures to conclude that nothing has come to the CPA’s attention that would lead the CPA to believe that your financial statements are not in accordance, in all material respects, with the applicable accounting framework. The conclusion is expressed in negative terms: this is characteristic of limited assurance.

Lenders and investors often request reviewed financial statements before granting financing or making an investment. For nonprofit organizations, public funders (federal or provincial) frequently require a review when revenues exceed certain thresholds, particularly for grant applications.

A review falls between a compilation (no assurance) and an audit (reasonable assurance): it enhances the credibility of your financial statements with third parties at a reasonable cost when a full audit is not required.