Review Engagements
The objective of a review engagement is to prepare and review financial statement to ascertain whether they are plausible, that is worthy of belief. If after reviewing the financial statements we are satisfied that the financial statements are not misleading, our standard accountants report will preface the financial statement.
Where an audit is not required or the shareholders have waived the appointment of auditors, financial statements may be prepared on a review basis. Reviews provide limited assurance That the financial information confirms to a standard such as IFRS or IFSRS for SMEs.
Non-Review Engagements (Compilations)
The objective of a compilation engagement is to compile unaudited financial information into financial statement, schedules or reports based on information supplied by the client.
A compilation is appropriate only where the client and other users do not need financial information that conforms in all respects to IFRS or IFRS for SMEs and audit or review assurance is not required, and where the client understands that the statements may not be appropriate for general purpose use. In such cases we will attach our standard compilation report to warn readers of the lack of assurance.