Accountant Review Services
Accountant Review
An Accountant Review provides limited assurance that no material changes are needed to bring the financial statements into compliance with the applicable financial reporting framework. It is based on the execution of analytical procedures and inquiries, to ascertain whether the information contained within the financial statements is correct.
This process provides limited assurance that the financial statements do not require material modifications.
An Accountant Review typically does not entail detailed examination of source documents, third party confirmations, tests of controls or physical inspection (for example of inventory on hand).
Agreed upon procedures
Agreed upon procedures typically examine a specific criteria or business process. Our report is typically restricted to certain parties, and only includes factual findings. Opinions, conclusions or assurances are not usually provided under Agreed Upon Procedures.
An example of this would be a company wishing to provide evidence of compliance with a statutory calculation for the payment of fees.
Internal Control evaluations
- For clients seeking an evaluation of their internal controls, we will typically perform procedures to determine:
- The existence of checks and balances;
- The extent to which controls are being used;
- Appropriate segregation of duties;
- Safeguarding of records;
- Adequacy of policies and procedures; and
- The level of training and competence of employees.
This examination usually results in FINCOR providing a set of recommendations to the client on ways to improve the system of internal controls.
Compliance
Our compliance service provides clients with reasonable assurance that the entity is complying with applicable laws, internal codes of conduct, policies, procedures, rule and regulation.
This work provides comfort regarding adherence to the prevailing laws, rules and workforce policies. This is a critical component of a three line of defense system in effective corporate governance.
Financial Due Diligence Reports
Our financial due diligence work investigates the records of a potential company to be acquired, to confirm that the financial representations of the seller are supported by the financial records, and are verifiable.
We look at revenue trends, liquidity, the market, asset base, receivables and payables, and provide a report to the client outlining our findings. This work enables the purchase transaction to be completed from an informed perspective, and also provides assurance to financial institutions who may be financing the acquisition.
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