Limited Revisions

The format used in this type of work is also standardized under the IFAC’s international auditing standards.

The purpose of a limited review or audit is to place the auditors in a position in which they are able to state that the information analysed is free of any material irregularity or error. This involves applying basic auditing procedures that do not have the depth or scope required in an accounts audit.

The engagement letters for limited reviews contain a detailed description of the extent and terms of this professional undertaking, with a view to clarifying the aims of the work carried out, the professional liability involved, the freedom of access to any documentation that may be required, etc