Accounting Review

Accounting review is a process in which the financial records and practices of an organization are used to ensure accuracy, compliance, and overall effectiveness by third party Accountant or Accounting firm. Unlike an audit, which is a more comprehensive and detailed examination, an accounting review is typically less intensive and focuses on providing limited assurance that financial statements are free from material misstatements.

An accounting review is essential for achieving complete financial transparency in business operations. Without proper maintenance of accounting records, such as ledgers, it becomes challenging to prepare crucial financial documents like income statements, trial balances, and balance sheets. Effective accounting requires significant time and effort to ensure accuracy and compliance. This is why many businesses turn to external accounting firms for support in managing their financial records and producing these critical financial statements.