Reviewed financial statements provide limited assurance over financial reporting while offering a practical alternative to a full audit. At Atherton & Associates, review engagements are designed to deliver credibility, clarity, and efficiency for organizations that require external financial reporting assurance without the scope of an audit.
Reviews are well suited for organizations that need external assurance, but do not require the depth or formality of a full audit.
Why It Matters
Reviewed financial statements help organizations provide credible financial information to lenders, investors, boards, and other stakeholders without the time and cost associated with a full audit.
This level of assurance is often appropriate when:
- Lenders or third parties require independently reviewed financial statements
- Stakeholders need greater confidence in financial reporting
- An audit is unnecessary or impractical
- Financial reporting complexity is increasing as the organization grows
A properly performed review helps bridge the gap between no assurance and a full audit.
Our Approach
Our review engagements are conducted in accordance with applicable professional standards and focus on analytical procedures and inquiry. We take time to understand your organization, identify unusual relationships or fluctuations, and address matters that require clarification.
We prioritize timely communication, organized processes, and minimal disruption to management and internal accounting teams throughout the engagement.
Audit & Assurance Capabilities
Review Services
Independent reviews of financial statements performed in accordance with professional standards, providing limited assurance that no material modifications are necessary for the statements to be in conformity with the applicable reporting framework.
Lender-Requested Reviews
Reviews performed to meet specific lender or third-party requirements, with attention to agreed-upon timelines and reporting expectations.
What You Can Expect
A well-organized review engagement with clear communication and defined expectations.
- A clearly defined scope and timeline
- Focused information requests
- Timely communication throughout the engagement
- Clear deliverables aligned with third-party needs
When reviews are performed well, they provide confidence without overextending internal resources.
When to Consider Reviewed Financial Statements
Reviewed financial statements may be appropriate when your organization is:
- Required by lenders or stakeholders to provide limited assurance
- Seeking credibility beyond internally prepared statements
- Experiencing moderate growth or increased complexity
- Balancing reporting requirements with cost considerations
If an audit is more than you need, but a compilation is not enough, a review may be the right fit.
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