Review of financial statements definition

Review of financial statements means performing inquiry and analytical procedures
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Review of financial statements means performing inquiry and analytical procedures which provide a reasonable basis for expressing limited assurance that there are no material modifications that should be made to the statements in order for them to be in conformity with generally accepted accounting principles or, if applicable, with another comprehensive basis of accounting; and, the issuance of a report on the financial statements stating that a review was performed in accordance with the standards established by the American Institute of Certified Public Accountants.
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Review of financial statements means providing a service in accordance with the Statements on Standards for Accounting and Review Services (SSARS) in which the accountant obtains limited assurance as a basis for reporting whether the accountant is aware of any material modifications that should be made to the financial statements for them to be in accordance with the applicable financial reporting framework, primarily through the performance of inquiry and analytical procedures.
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Examples of Review of financial statements in a sentence

  • IAC 7/9/14 Iowa Finance Authority[265] Ch 41, p.5 41.11(2) Review of financial statements.

  • The terms of reference of the Committees are summarized below, in addition to the record of directors’attendance:Board Committees – Terms of Reference/Attendance at MeetingsFinance & General Purposes Committee: Review of financial statements, and monitoring of financial plans.

  • ScopeUnless otherwise described in the basic paragraph of a qualified opinion, we perform the review in accordance with Statement on Auditing Standards No. 65 Review of financial statements.

  • Audit of financial statements ....................................................................................Review of financial statements ................................................................................Other services ...........................................................................................................

  • Review of financial statements to examine data reliability.Prepare assets register, store register and to test proper recording of assets and expenditure reliability of financial information.

  • The parameters of performance evaluation of the Non Executive Directors will capture the following points:• Attendance at meetings of the Board and Committee thereof,• Participation in Board meetings or Committee thereof,• Contribution to strategic decision making,• Review of risk assessment and risk mitigation,• Review of financial statements, business performance, and• Contribution to the enhancement of brand image of the Company.

  • While evaluating the performance of the Non-Executive Directors (‘NEDs’), the following parameters shall be considered: (a) Attendance at meetings of the Board and Committees thereof,(b) Participation in Board Meetings or Committee thereof,(c) Contribution to strategic decision making,(d) Review of risk assessment and risk mitigation,(e) Review of financial statements, business performance.(f) Contribution to the enhancement of brand image of the Company.

  • The functions of the Audit Committee include the following: • Review of financial statements and auditors’report.

  • As 65 percent of respondents the accuracy of tax returns have been tested through Review of financial statements and returns, examination of taxpayer’s record such as books and documents and field examination (physical checks of taxpayers’ assets and other aspects).

  • This process includes among its main components:• Annual evaluation of key risks carried out by Management and reported to the Board of Directors.• Independent evaluations carried out by the Internal Audit Management of the internal control structure.• Certification evaluations (ISO, OHSAS, FSC®, etc.) carried out by external companies.• Review of financial statements by External and Internal Audit.• Inspection of risks in operations, carried out by insurance companies.


More Definitions of Review of financial statements

Review of financial statements means performing inquiry and analytical procedures which provide a reasonable basis for expressing limited assurance that there are no material modifications that should be made to the statements in order for them to be in conformity with generally accepted accounting principles or, if applicable, with another comprehensive basis of
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Review of financial statements shall be defined as means those financial statements prepared reviewed by an
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Review of financial statements shall be defined as means those financial statements prepared reviewed by an independent accountant, and shall include at least the following:
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Review of financial statements means providing a service in accordance with
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Related to Review of financial statements

  • Interim Financial Statements has the meaning set forth in Section 3.06.

  • Audited Financial Statements means the audited consolidated balance sheet of the Borrower and its Subsidiaries for the fiscal year ended December 31, 2012, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year of the Borrower and its Subsidiaries, including the notes thereto.

  • Target Financial Statements has the meaning set forth in Section 3.4.

  • Financial Statements has the meaning set forth in Section 3.06.

  • Financial Statement has the meaning set forth in Section 4(g) below.

  • Year-End Financial Statements has the meaning set forth in Section 3.06.

  • Unaudited Financial Statements has the meaning set forth in Section 3.4(a).

  • Company Financial Statements has the meaning set forth in Section 3.6(a).

  • Monthly Financial Statements is defined in Section 6.2(c).

  • Seller Financial Statements has the meaning set forth in Section 3.5(a).

  • Buyer Financial Statements shall have the meaning set forth in Section 4.6.

  • Audited financial statement means a financial statement audited by an outside accounting firm.

  • Historical Financial Statements means the audited consolidated balance sheets of the Borrower as of December 31, 2006 and December 31, 2005 and the audited consolidated statements of income, stockholders’ equity and cash flows of the Borrower for each of the fiscal years in the three year period ending on December 31, 2006.

  • Financial Statements Date shall have the meaning ascribed to it in Section 3.7.

  • Company Audited Financial Statements has the meaning set forth in Section 3.11.

  • Interim Statements means the quarterly financial statement of any insurance company as required to be filed with the Department, together with all exhibits or schedules filed therewith, prepared in conformity with SAP. References to amounts on particular exhibits, schedules, lines, pages and columns of such interim statements are based on the formats promulgated by the NAIC for 2012 interim statements for the applicable type of insurance company. If such format is changed in future years so that different information is contained in such terms or they no longer exist, it is understood that the reference is to information consistent with that recorded in the referenced item in the 2012 interim statement of the insurance company.

  • Current Financial Statements has the meaning given to such term in Section 5.9.

  • Statutory Financial Statements means, with respect to any Party, the annual and quarterly statutory financial statements of such Party filed with the Governmental Body charged with supervision of insurance companies in the jurisdiction of domicile of such Party to the extent such Party is required by Applicable Law to prepare and file such financial statements.

  • Quarterly Financial Statements is defined in Section 6.2(a).

  • Annual Financial Statements has the meaning set forth in Section 3.06.

  • Parent Financial Statements has the meaning set forth in Section 4.6(a).

  • Initial Financial Statements means, collectively, (a) the audited annual consolidated financial statements of the Borrower dated as of December 31, 2014 and (b) the unaudited quarterly consolidated financial statements of the Borrower dated as of September 30, 2015.

  • Pro Forma Financial Statements shall have the meaning set forth in Section 5.5(b) hereof.

  • Closing Financial Statements has the meaning set forth in Section 6.22.

  • Financial Statement Date means December 31, 1999.

  • Most Recent Financial Statements has the meaning set forth in Section 4(g) below.