{"id":98,"date":"2022-07-01T02:10:44","date_gmt":"2022-07-01T02:10:44","guid":{"rendered":"https:\/\/sungpakcpa.com\/?page_id=98"},"modified":"2022-07-01T02:10:44","modified_gmt":"2022-07-01T02:10:44","slug":"review-limited-assurance","status":"publish","type":"page","link":"https:\/\/sungpakcpa.com\/?page_id=98","title":{"rendered":"Review &#8211; Limited Assurance"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Less extensive than an audit, but more involved than a compilation, a review engagement consists primarily of analytical procedures we apply to the financial statements, and various inquiries we make of your company&#8217;s management team. If the financial statements or supporting information appear inconsistent or otherwise questionable, we may need to perform additional procedures.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A review doesn&#8217;t require us to study and evaluate your company&#8217;s internal controls or verify data with third parties or physically inspect assets. Rather, a review report expresses limited assurance in the form of the statement: &#8220;We are not aware of any material modifications&#8221; for the financial statements to be in conformity with the Generally Accepted Accounting Principles (GAAP). Reviewed financial statements must include all required footnotes and other disclosures.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Why might a business request a review engagement? It can be a good middle ground, providing the advantages of a CPA&#8217;s technical expertise without the work and expense of an audit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Less extensive than an audit, but more involved than a compilation, a review engagement consists primarily of analytical procedures we apply to the financial statements, and various inquiries we make of your company&#8217;s management team. If the financial statements or supporting information appear inconsistent or otherwise questionable, we may need to perform additional procedures. A [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":94,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"class_list":["post-98","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/sungpakcpa.com\/index.php?rest_route=\/wp\/v2\/pages\/98","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sungpakcpa.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/sungpakcpa.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/sungpakcpa.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sungpakcpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=98"}],"version-history":[{"count":1,"href":"https:\/\/sungpakcpa.com\/index.php?rest_route=\/wp\/v2\/pages\/98\/revisions"}],"predecessor-version":[{"id":99,"href":"https:\/\/sungpakcpa.com\/index.php?rest_route=\/wp\/v2\/pages\/98\/revisions\/99"}],"up":[{"embeddable":true,"href":"https:\/\/sungpakcpa.com\/index.php?rest_route=\/wp\/v2\/pages\/94"}],"wp:attachment":[{"href":"https:\/\/sungpakcpa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=98"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}