When we conduct a financial review, we take a close look at a nonprofit’s financial statements to ensure they’re accurate and free from errors. However, we don’t dive deeper into the organization’s internal controls. Our report will highlight any necessary adjustments, but it’s essential to note that a review doesn’t provide a professional opinion on the nonprofit’s overall financial health.

The key difference between a review and an audit lies in the level of scrutiny. Audits require independent verification of financial information, providing a higher level of assurance. Reviews, on the other hand, are less comprehensive and less expensive. While they may not offer the same level of confidence, reviews are often preferred by startups and high-growth organizations with limited resources. Think of it as a cost-effective snapshot of your financial situation, rather than a thorough examination.