Financial Review in United States

Definition of Financial Review (in Charity Law)

A concept of Financial Review in the context of charitable ogranizations applicable in the United States is provided here: An examination of an organization’s financial records and practices by an independent accountant with the objective of assessing whether the financial statements are plausible. A financial review does not involve the extensive testing and external validation procedures of an audit and generally provides less credibility than an audit. A review offers a lower- cost method of providing some assurance to board members and other managers of an organization that the financial systems and statements are in reasonable order.

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See Also

• Charity
• Foundation
• NGOs