Financial Statement Review

A Financial Statement Review is an assurance service that provides limited assurance regarding the fair presentation of financial statements based primarily on analytical procedures and inquiries with management. Compared with a financial statement audit, a review involves a more limited scope of procedures, while still being conducted in accordance with the Indonesian Public Accountant Professional Standards (SPAP).

KAP Dian Utami & Partners helps companies, foundations, cooperatives, educational institutions, and other organizations enhance the credibility of their financial statements for the needs of regulators, investors, creditors, and other stakeholders, with greater efficiency in terms of time and cost compared with a full audit.

Key Benefits

Provides limited assurance on financial statements.
Enhances the credibility of financial information.
Offers a more efficient alternative to a full audit.
Supports reporting requirements for third parties.
Helps improve the quality of financial statement presentation.

All Services

Need a Financial Statement Review?

Obtain limited assurance on your financial statements through a more efficient process than a full audit. The KAP Dian Utami team is ready to assist with a review conducted in accordance with SPAP to enhance the credibility of your financial statements and support stakeholder requirements.

Frequently Asked Questions

Quick answers about the process, procedures, timeline, benefits, and deliverables of Financial Statement Review services with KAP Dian Utami.

What are the main benefits of using Financial Statement Review services?

A Financial Statement Review provides independent validation of the reliability of your financial statements through a process that is generally faster and more cost-efficient than a full audit. It is an ideal solution for enhancing the credibility of financial information in the eyes of shareholders, investors, or potential business partners.

What types of businesses are suitable for Financial Statement Review services?

This service is particularly suitable for small and medium-sized enterprises (SMEs), privately held entities, and growing businesses that are not yet subject to a regulatory requirement for a full audit but still need independent oversight of the quality of their financial reporting.

Can the results of a Financial Statement Review be used for bank loan applications?

This depends on the requirements of each bank or financial institution. Many banks may accept a Review Report for certain credit facilities or periodic monitoring purposes, particularly where a full audit providing reasonable assurance is not required.

What procedures are performed during a Financial Statement Review engagement?

We focus primarily on two procedures: analytical procedures to identify trends and unusual fluctuations in financial data, and inquiries with management and the accounting team regarding the accounting policies and practices applied.

How long does the Financial Statement Review process take?

Because a review does not involve the same extent of detailed substantive testing as a full financial statement audit, the process is generally completed more quickly. The actual timeline depends on the completeness of the draft financial statements and the responsiveness of your internal team.

What are the stages of the Financial Statement Review process?

The process begins with an initial discussion to understand your business, followed by submission of the draft financial statements, analytical procedures and inquiries, discussion of preliminary findings with management, and finally the issuance of the Independent Review Report.

KAP Dian Utami