A financial statement review assures that nothing came to our attention resulting from a set of inquiries performed by us. (Case study: questioning the inventory-taking process and the evaluation methods of those inventories.)

However, reviews differ from audits as they do not test managerial representations. Even though there are less required procedures in a review, and though financial statement reviews are far less thorough than audits, what they have in common is the amount of management recommendations that we provide.