Independent Review Services

Not every business needs a full audit. But most growing businesses do need some level of independent oversight of their numbers. An independent review is that “middle ground” – lighter than an audit, more meaningful than a simple set of compiled financials.

Who an independent review is for

An independent review is typically a great fit if:

• You are a private company or NPO that is not legally audit‑required, but still falls into the Companies Act review category.
• Your financial statements are prepared by an external accountant, and you need an independent professional to “sense‑check” them.
• Your bank, donor or shareholders want some form of assurance, but a full audit would be overkill for your size and risk profile.

Think: family businesses, professional firms, trading companies and established SMEs with real operations, but without the complexity or public profile that drives a full audit.

What you get from an independent review

An independent review gives you limited assurance in a leaner, faster way.

You can expect:

• A formal review report attached to your annual financial statements, stating whether anything has come to our attention that suggests the numbers are not fairly presented.
• A fresh, independent set of eyes on your financials, focusing on unusual movements, inconsistencies and potential misstatements.
• A more accessible fee and less disruption compared to a full audit – while still giving your stakeholders more confidence than “we compiled it ourselves”.

You get comfort, clarity and credibility – without paying for procedures you may not need.

How we work with you

The process is designed for efficiency, but we still keep it personal.

1. Understand your business and financials

• Review your compiled financial statements, talk through your business model, year‑on‑year changes and any known problem areas.

2. Enquiry and analytical review

• Perform high‑level analytical procedures on key balances and ratios.
• Ask focused questions where the numbers don’t “tell a clean story”.

3. Targeted follow‑up and conclusion

• Where needed, perform limited follow‑up work to resolve specific concerns.
• Issue a limited assurance report and, where helpful, share practical observations for management.

If you’re outgrowing a simple compilation, but not ready for a full audit, an independent review is usually the right next step.

Next steps

If you’re not sure whether your entity should sit under Audit or Independent Review, we can map this out based on your PIS, MOI and stakeholder expectations – and help you plan for the next few years rather than re‑deciding every year‑end.

Contact SC Audit for a consultation