Financial Statement Reviews

There are a variety of non$-$audit services that CPAs perform for companies. Understanding what these services entail helps to ensure you comply with any type of client engagement.

Melissa O'Neil, CPA, has been engaged by a nonpublic company, Caldwell, Inc., to review the most recently completed fiscal year's financial statements.

What sources should O'Neil consult to prepare for this review?

What are the required procedures that O'Neil must perform?

What information should the review report contain?

What should O'Neil do if she finds there was a material departure from GAAP?