Our team at Rawluk & Robert are knowledgeable and experienced in providing an Independent Review engagement opinion on a wide variety of For-Profit and Not-For-Profits in Canada.
While an audit is intended to provide reasonable assurance that the financial statements are free of material misstatements, a review engagement is only meant to provide limited assurance that the financial statements are free from material misstatement.
Financial statements prepared under a Review Engagement will conform to Canadian accounting standards. They will contain all the necessary schedules and disclosures according to industry and professional standards. Review Engagements are often required by third parties such as financial institutions, franchisers, landlords, funders, or minority shareholders.
Additionally, if your business is growing and you may be looking for significant financing or looking to sell your business in the short term, you may proactively consider a Review Engagement.
In Manitoba, Review Engagements are a "public accounting service" regulated by CPA Manitoba and can only be performed by members in good standing.