What to keep in mind
Review recording processes, supporting documents, account reconciliations, closing procedures and weaknesses requiring attention.
Growth without stronger controls can conceal errors and materially distort reports.
Distinctions often confused
An accounting review is not necessarily a full statutory audit.
Frequently asked questions
Should a growing company upgrade internal controls?
Where complexity increases, a proportionate review is sensible.
Does an audit guarantee that no liabilities exist?
No. Scope and limitations must be expressly understood.
Informational content. It is not a substitute for professional advice.