If you are a business owner, you may have heard the term review engagement tossed around by lenders, investors, or even your accountant. But what exactly is it—and why might it be the perfect fit for your business?

At Geib and Company, we specialize in helping businesses find the right level of financial assurance. Let us explain why a review engagement might be your best move—and how it can help you grow with confidence.

 

What Is a Review Engagement?

A review engagement is a type of financial statement service that provides limited assurance. It is more thorough than a compilation but less intensive than an audit.

In plain terms: we take a close look at your financials, ask questions, and perform analytical procedures to ensure everything makes sense. We do not perform a full audit, but we do provide a professional conclusion that nothing has come to our attention that causes us to believe the financial statements are not prepared, in all material respects, in accordance with the applicable standards.

 

Why Choose a Review Engagement?

Here are a few reasons businesses choose review engagements:

• Lenders often require it: Banks and credit unions may ask for a review engagement before approving loans.
• Cost-effective: It is more affordable than an audit but still provides credibility.
• Investor confidence: Investors appreciate the added assurance without the full audit price tag.
• Peace of mind: You get a professional check-up on your financials—without the stress of a full audit.

 

Who Needs a Review Engagement?

You might benefit from a review engagement if:

• You are applying for financing or renewing a loan
• You are attracting new investors or partners
• You are a growing business that wants to improve financial transparency
• You want to ensure your financial statements are reliable and professionally reviewed

 

What Does the Process Look Like?

At Geib and Company, we make the process smooth and straightforward:

1. Initial Planning – We learn about your business and industry.
2. Inquiry & Analysis – We ask questions and perform financial analysis.
3. Documentation – We document our findings and procedures.
4. Review Report – You receive a formal report with our professional conclusion.

 

If you are still unsure whether a review engagement is the right fit, you are in good company. Many business owners find themselves in the same boat—somewhere between “I think I need something” and “Please do not make me read accounting standards.”

 

The good news? A review engagement is often the “just right” option—like the Goldilocks of financial reporting. Not too light, not too heavy, and just enough assurance to keep lenders, investors, and your future self happy.