What is the difference between an audit and a review engagement?

Posted by Jenny H. Shao on Feb 12, 2018 3:50:43 PM

Nonprofits, construction companies, or companies with external investors are all examples of companies that may be required to get audits. However, these requirements may be dependent on certain circumstances. For instance, a nonprofit that recently reached a higher level of government funding may have crossed the audit requirement threshold. That said, there are many nuances involved in determining whether a switch to or from a review to an audit would be necessary. Regardless, companies do experience this transition and the following information is aimed at determining the difference between the two.

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Topics: Audit & Assurance, Audits Vs. Reviews

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