


Identifying significant deficiencies in internal control (if observed)
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what is a review engagement Informational
- Developing expectations for account balances and ratios
- Ensuring consistency of accounting principles
- Seeking corroborating evidence whenever possible Considering the possibility of fraud or error
- Ensuring the security and confidentiality of information exchanged remotely Adapting communication strategies for remote engagements
- Understanding the entity's data management practices Reviewing the entity's disaster recovery plan (limited in review)
- Understanding the entity's risk management processes
- Documenting the procedures performed and the conclusions reached regarding related party transactions Reviewing significant estimates and judgments made by management
- Tailoring the level of inquiry and analytical procedures to the circumstances
- Reviewing related party transactions Reviewing contingent liabilities and commitments
- Reporting on compliance with grant terms and conditions Understanding the specific requirements of grant agreements and funding agencies
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