For small and medium companies, not obligated to appoint an auditor for their financial statements, but caring for increase the level of trust for the users and the credibility of their financial statements, a review report is the most suitable solution.

A review is also a type of audit but provide a moderate level of insurance for the financial statements. The purpose of a review is related to the procedures applied by the auditor, taking into account the demands of the significant audit standards, the financial reporting and settlement frame, the applicable law, in order to obtain enough adequate samples needed for achieving the intended goals and constituting the base for express a conclusion over the financial statements as a whole.

Applied analytical procedures:

•   Comparison of the financial data with the one for previous year and/or industry
•   Analysis and comparison of budgets and forecasts, previous and present
•   Comparison with the latest audited financial statements
•   Comparison of used accounting policies with those presented into the audited financial statements
•   Comparison of the financial indicators with those for previous years and from industry
•   Comparison of figures for turnover with previous years and drawing out analysis on business segments
•   Discussion with management for high level of variation