


Modifying the review engagement report if there are material uncertainties related to going concern
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what is a review engagement Informational
- Modifying the review engagement report when pervasive misstatements exist Communicating identified misstatements to management and those charged with governance
- Scrutinizing information provided by management with a questioning mind Considering alternative explanations for financial statement fluctuations or unusual items
- Staying updated on changes in accounting standards
- Participating in continuing professional education activities
- Communicating with the predecessor auditor or accountant (if applicable)
- How are significant findings addressed during a review engagement?
- Issuing a report of findings based on the procedures performed Considering the specific reporting requirements for different types of review engagements
- Maintaining adequate professional liability insurance
- Comparing the entity's financial performance to industry peers Identifying unusual or unexpected relationships in the financial data
- Understanding the entity and its environment in a review engagement
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