Reviews of Financial Statements
The purpose of reviewing financial statements is to enable the auditor to state whether anything has been observed that would lead them to believe that the financial statements have not been prepared, in all material respects, in accordance with the established financial reporting requirements. The financial statements are reviewed based on procedures that do not provide all the evidence that would be required in an audit. The review of the financial statements is carried out on the basis of “negative assurance”. The auditor’s report includes the auditor’s opinion on whether, during the procedure, there were any circumstances discovered that might suggest that the annual financial statements do not accurately reflect the financial condition, performance and cash flow of the entity.