Certified Public Accountant Accountant is a designation given by the (AIAccountant) to persons that pass the Accountant Exam and meet the education and experience
reviewed financial statements
A reviewed financial statements review is a service under which the accountant obtains limited assurance that there are no material modifications that need to be made to an entity’s financial statements for them to be in conformity with the applicable financial reporting framework (such as GAAP or IFRS). A review does not require the accountant to obtain an understanding of internal control or to assess fraud risk, or other types of audit procedures. Consequently, a review does not provide the accountant with the assurance that he has become aware of all the significant matters that would normally have been discovered and disclosed in an audit.
The reviewed financial statements is more expensive than a compilation and less expensive than an audit. It is preferred by those businesses whose lenders and creditors will allow them to use this approach, thereby saving the cost of a full audit.
In a reviewed financial statements, management takes responsibility for the preparation and presentation of the entity’s financial statements, while the accountant should have a sufficient level of knowledge of both the industry and the entity to review the financial statements.