If you want to borrow money or make an investment, your creditors will certainly ask your financial statements to be provided with a review engagement report.
Thus, a creditor will feel more comfortable to rely on the financial information received as there will be an assurance that it has been recorded and presented based on specific accounting rules, ensuring a uniformity in the calculation of financial ratios.
Besides, if you would like to sell or attract potential investors, the review engagement report will allow you to present complete and credible financial statements. Indeed, these statements are provided with a review engagement report prepared by a CPA who has a recognized public accounting licence.
The review engagement report is an excellent alternative to the auditor’s report because it is quickly produced at a low cost.
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The review engagement report is produced by a chartered professional accountant who has a recognized public accounting licence. This report has to be made following high professional standards.The review engagement report is delivered in response to information requests and meetings with you as well as the application of analysis procedures. The aim is to gather enough information to conclude that all elements from your financial statements suggest complete consistency with the professional standards chosen.