Reviewed Financial Statements require that the CPA perform inquiry and analytical procedures in addition to the procedures described for a compilation. Upon completion, a report is issued stating that a review has been performed and that a review is less in scope than an audit, and that the CPA did not become aware of any material modifications that should be made in order for the statements to be in conformity with generally accepted accounting principles, or if applicable, another comprehensive basis of accounting.
This is known as the expression of "limited
assurance." Reviewed financial statements are often prepared for entities that have bank loans, outside investors, or trade creditors, but those third parties do not require audited
McFarlin & Brokke CPA
99 South Yonge St
Ormond Beach, FL 32174
Phone: (386) 882-6047
Year-end tax planning is more complicated this year than in most years. With the possibility of major tax change just ahead, many standard tax-cutting moves are turned upside down. There’s not much time left for making changes that could affect your taxes for 2017. Call us to schedule your tax planning appointment, (386) 882-6047