Financial Statement Audit or Review: Which Is Better for You?

CPA firms provide a level of assurance on financial statements by performing audits and reviews, but many dealers are not sure which service they need. Audits are more detailed and more costly than reviews, but in many cases, reviews can provide sufficient assurance, especially when they are augmented by agreed-upon procedures. Dealers need to understand the differences between audits and reviews to choose the service that best meets their needs.