Reviewed Financial Statements

At Darin Guthrie, CPA, PLLC, we often assist management in presenting and reviewing an organization’s financial position to convey the key aspects of the organization and the results of operations in the form of a financial statement.

Less extensive than an audit, but more involved than a compilation, a review consists primarily of analytical procedures we apply to the financial statements and various inquiries we make of an organization’s management team.

We draw upon our strong understanding of the organization’s industry to design inquiries and analytical procedures to apply to their financial information. Doing so allows us to issue a report that provides limited assurance that we are not aware of any material modification that needs to be made to the financial statements for them to be in conformity with the applicable financial reporting framework.

Reviewed financial statements are often prepared when an investor, or bank, requires an organization to provide financial information in the form of a financial statement and wants more assurance than can be given with compiled statements.