Financial Statement Review
Financial statement review services provide limited CPA assurance that financial statements are fairly presented in accordance with GAAP, without the scope or cost of a full audit. Molinari Oswald serves organizations in Whitehall, Allentown, Bethlehem, Easton, and across Lehigh, Northampton, Bucks, Montgomery, and Berks counties, throughout the Mid-Atlantic, and nationwide helping businesses and nonprofits strengthen credibility with lenders, creditors, investors, and stakeholders.
Professional Financial Statement Reviews: CPA-Led Assurance You Can Rely On
Financial statements are more than compliance documents; they are decision-making tools for business owners, boards, lenders, investors, and regulators. At Molinari Oswald, LLC, our peer-reviewed, CPA-led team provides a full range of financial statement services, including audits, reviews, compilations, and Agreed-Upon Procedures (AUP). From our headquarters in Center Valley, Pennsylvania, we serve organizations in Whitehall, Allentown, Bethlehem, and Easton, as well as the surrounding counties of Lehigh, Northampton, Bucks, Montgomery, and Berks, the Mid-Atlantic region, and nationwide.
We help clients select the appropriate level of assurance based on their specific needs without over-scoping or under-serving. Our financial statement review services are designed to deliver limited assurance that an organization’s financial statements are presented fairly in accordance with U.S. Generally Accepted Accounting Principles (GAAP). We help leadership, lenders, and stakeholders gain confidence in financial reporting without the depth or cost of a full audit.
What Is a Financial Statement Review?
A financial statement review provides a moderate level of assurance that financial statements are free from material misstatement. Unlike an audit, a review does not include extensive testing or verification procedures.
Reviews are often appropriate as organizations grow and require a higher level of financial credibility for decision-making, financing, or external reporting.
Our review engagements are conducted in accordance with Statements on Standards for Accounting and Review Services (SSARS).
Our Financial Statement Review Approach
During a review engagement, our CPAs focus on inquiry and analytical procedures to assess whether financial statements appear reasonable and consistent with GAAP.
Review Procedures May Include
- Inquiries of management regarding accounting practices and personnel
- Understanding accounting procedures used to prepare financial records
- Analytical procedures and ratio analysis
- Investigation of unusual, complex, or non-recurring transactions
- Review of communications with regulatory agencies
- Issuance of a written review report expressing limited assurance
This approach allows organizations to meet external requirements while maintaining efficiency and cost-effectiveness.
Benefits of Financial Statement Review Services
Financial statement reviews offer meaningful advantages for organizations seeking credibility without the scope of an audit.
Lender & Creditor Confidence
Reviewed financial statements are often required when applying for loans, renewing financing, or increasing lines of credit.
Cost-Effective Assurance
A review provides a higher level of confidence than a compilation while avoiding the time and expense of a full audit.
Improved Financial Insight
Analytical procedures can highlight trends, variances, and areas requiring management attention.
Support for Business Decisions
Owners and leadership can rely on reviewed financial statements when making strategic and operational decisions.
Stakeholder Transparency
Provide third parties with independently reviewed financial information to support trust and accountability.
When a Financial Statement Review Is Appropriate
A financial statement review is often the right level of assurance when:
Applying for Financing or Credit
Banks, lenders, and creditors may require reviewed financial statements before approving loans or increasing credit limits.
Business Growth & Maturation
As organizations grow in size or complexity, a review can support stronger financial governance.
Ownership or Management Reporting
Reviewed statements provide owners and management with added confidence beyond internal reporting.
Transitioning Toward an Audit
Reviews are frequently a stepping stone for organizations preparing for future audit requirements.
Who We Provide Financial Statement Reviews For
Our review services are well-suited for:
- Small and mid-size businesses
- Growth-stage organizations
- Nonprofit organizations not requiring an audit
- Companies with lender or investor reporting requirements
Each engagement is tailored to the organization’s size, industry, and reporting needs.
Dedicated CPAs, Not a Transactional Review Model
Our review engagements are led by experienced CPAs who prioritize communication, consistency, and practical insight.
You work directly with professionals who understand your organization, financial structure, and long-term objectives, not a rotating or volume-driven review team.
Schedule a Financial Statement Review
Whether you need reviewed financial statements for financing, internal decision-making, or stakeholder reporting, Molinari Oswald provides reliable, CPA-led review services.
Contact us to discuss your review requirements with a dedicated CPA-led team.
Frequently Asked Questions
What level of assurance does a financial statement review provide?
A review provides limited assurance that no material modifications are needed for financial statements to conform with GAAP.
How does a review differ from an audit?
A review relies on inquiry and analytical procedures, while an audit includes extensive testing and provides the highest level of assurance.
Is a financial statement review performed by CPAs?
Yes. Reviews are conducted by licensed Certified Public Accountants in accordance with professional standards.
Who typically requires reviewed financial statements?
Lenders, creditors, investors, and sometimes vendors may require reviewed financial statements.
Can a review be upgraded to an audit later?
Yes. Many organizations begin with a review and later transition to an audit as requirements change.
