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Review vs. audited financial statements, “What is the Difference?”

Sunday, March 01, 2009

Asking for a review or an audit is really asking for assurance on the financial statements.  The review and audit provide different levels of assurance.  Your professional accountant provides many different services.  However, for assurance type services there are really only three; the Review, the Audit and the Special report. Now, some of you are thinking “What about my notice to reader financial statements?”  To be clear, the “notice to reader” service is not an assurance service.

Financial_Statement_Assurance.pdf