Engagement
Limited Review Engagement
Inquiry and analytical procedures on interim or annual statements when a full audit is not required but lenders or boards still want independent review.
Who this is for
Companies preparing quarterly packs for group reporting, or boards that want an independent look at interim results without a full statutory audit.
Result you receive
A review report stating that nothing came to our attention indicating material misstatement, based on inquiry and analytical procedures — not an audit opinion.
Scope
Included
- Analytical review of significant fluctuations versus budget and prior periods
- Inquiry of finance management on accounting policies and estimates
- Limited review report in the form agreed in the engagement letter
Outside this engagement
- Substantive detail testing at audit level
- Inventory observation or third-party confirmations unless separately agreed
- Restatement work for prior periods
How we work
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1
Agree review scope
We confirm which periods and entities are in scope and which analytical thresholds apply.
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2
Perform inquiry and analytics
We examine variance explanations, estimate changes, and unusual journal activity.
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3
Clear and report
Open questions are resolved with your team before we issue the review report.
Provide comparative management accounts, variance notes, and draft interim statements before the review window opens.
Constraints: A limited review does not provide the same assurance as an audit; if we encounter indicators of material misstatement, we may recommend expanding to audit procedures.
Ready to define the engagement letter?
Tell us whether this is for a board pack, a lender covenant, or group consolidation so we can match the report language.
Request a scoping call