Financial Statement Review Services

Review Services

At Wei, Wei & Co., LLP, we provide financial statement review services designed for businesses and organizations that need assurance, but not the extensive procedures of a full audit. Our reviews offer a cost-effective way to gain limited assurance over your financial information while maintaining compliance with stakeholder expectations and industry standards.

What Is a Financial Statement Review?

A financial statement review is a type of assurance engagement that provides limited assurance that your financial statements are free from material misstatement. It involves analytical procedures and inquiries rather than full testing of transactions and balances, as is done in an audit.
Unlike audits, reviews:

Do not require an in-depth examination of internal controls
Are typically completed faster and at lower cost
Provide stakeholders with moderate assurance, making them ideal for lenders, investors, or boards of directors

Reviews are conducted in accordance with the AICPA’s Statements on Standards for Accounting and Review Services (SSARS).

Who Needs a Financial Statement Review?

A review is often suitable for:

Privately held businesses not required to undergo an audit
Nonprofits or foundations with internal or donor-related reporting obligations
Entities seeking loans or credit lines that require CPA-reviewed statements

Whether you’re meeting lender requirements or increasing transparency for stakeholders, a review balances credibility with efficiency.

Our Review Services Include:

Review of annual or interim financial statements
Preparation of reviewed financial statements with required disclosures
Analytical procedures to assess financial statement consistency
Inquiries of management regarding accounting policies and estimates
Comparison of current and prior period financials and trends
Issuance of a formal CPA review report suitable for third parties

How Our Process Works

Our approach is designed to deliver timely, accurate, and clear results—without placing unnecessary burden on your team:

Engagement Planning
We gain an understanding of your business, financial reporting processes, and goals for the review.
Document Collection & Analysis
We request financial documents and perform analytical procedures and inquiries of management.
Review Execution
Our team conducts ratio analysis, account variance reviews, and compares financial trends across periods.
Reporting & Communication
We issue a review report and provide observations or suggestions for improving accounting practices.

Service Type	Level of Assurance	CPA Procedures Involved	Cost/Time
Review	Limited	Inquiries and analytical procedures	Moderate
Compilation	None	No testing, analysis, or inquiry	Lower
Audit	High	Detailed testing, verification, internal controls	Higher