

Comparing actual results to expectations Investigating significant differences between actual results and expectations
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what is a review engagement Informational
- Reviewing related party transactions Reviewing contingent liabilities and commitments
- Responsibilities of other engagement team members
- Analytical procedures in a review engagement What types of analytical procedures are used in a review engagement?
- Identifying significant deficiencies in internal control (if observed)
- Consulting with legal counsel when necessary
- Resolving ethical conflicts in a review engagement The importance of professional judgment in a review engagement
- Considering environmental liabilities (if applicable) Reviewing pension and other employee benefit plans
- Performing analytical procedures designed to identify potential fraud Considering the risk of management override of controls
- Performing procedures to assess compliance with specific covenants or terms
- Obtaining access to necessary information for the review The process of drafting the review engagement report
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