Report Review

The objective of a report review is to enable the reviewed firm to improve the overall quality of its compilation engagements that omit substantially all disclosures.  To accomplish this objective, the reviewer provides comments and recommendations based on whether the submitted financial statements and related accoutant's reports appear to conform with the requirements of professional standards in all material respects.  Firms required to have a report review may elect to have a system or engagement review.

Cost of a Report Review

The cost of a report review is based on how many engagements must be chosen for review.  The number selected is based on the number of engagements performed during the year under review and the number of partners responsible for issuing reports. The following is a range of costs for report reviews according to how many engagements are selected: