A Review Engagement gives lenders, investors, and regulators the confidence they need, without the cost and scope of a full audit.
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A Review Engagement under CSRE 2400 provides limited assurance that your financial statements are free from material misstatement. Through analytical procedures and targeted inquiries, we give your stakeholders (lenders, investors, and regulators) a credible, independently reviewed set of financials.
Review Engagements are commonly required for bank financing over certain thresholds, shareholder agreements, grant applications, and regulatory filings. They offer a meaningful level of credibility at a fraction of the cost of a full audit.
We begin by understanding the purpose of the review, whether for a lender, investor, regulatory filing, or internal use. We confirm the scope, timeline, and any third-party requirements before any work begins.
We perform analytical procedures comparing current and prior period figures, key ratios, and industry benchmarks. We follow up with targeted inquiries on any significant variances to ensure the statements are consistent and reliable.
We issue a signed Review Engagement Report alongside professionally prepared financial statements, lender-ready, CSRE 2400-compliant, and delivered within the agreed timeframe. No surprises, no delays.
Once your review is complete, we remain available for questions, follow-up with lenders, and planning for the next period. Our goal is a long-term relationship, not a one-time transaction.
Whether you need a review for financing, a shareholder agreement, or regulatory compliance. We'll walk you through exactly what's required, how long it takes, and what it costs.
Book a Free ConsultationMost lenders and investors require a review, not a full audit. A review provides limited assurance through analytical procedures and inquiries, and it is significantly less costly and time-intensive than an audit, while still giving stakeholders the credibility they need.
Timeline depends on the complexity of your financials and how organized your records are. Most review engagements are completed within two to four weeks once all information is received. We plan around your financing or compliance deadline from day one.
Cost varies based on the size and complexity of your business and the state of your records. We provide a clear, fixed-fee quote before any work begins, with no surprises. Book a free consultation and we will give you an honest estimate upfront.
Under CSRE 2400, the CPA performing a review engagement must be independent from the entity. If the same firm prepares your books, they may face independence restrictions. We can perform your review independently, even if another firm handles your bookkeeping.
A Review Engagement includes a balance sheet, income statement, statement of retained earnings, and cash flow statement, along with notes. We also issue a signed Review Engagement Report confirming the scope and providing the required level of assurance to lenders and stakeholders.
In most cases, yes. Major Canadian banks and commercial lenders accept Review Engagements under CSRE 2400 for loan applications, covenant monitoring, and annual reporting. We recommend confirming your lender's specific requirements before we begin so we can tailor the scope accordingly.
A compilation prepares financial statements from management's information with no assurance. A Review Engagement goes further, with the CPA performing analytical procedures and issuing a report with limited assurance. Most lenders require a review, not a compilation, when credibility is needed.
The most important thing is organized, up-to-date records. We'll need your bank statements, year-end trial balance, details on significant transactions, and prior year comparatives. The better your records, the faster and more cost-effective the engagement. We send a clear checklist once scope is confirmed.
