VERIFICATION
Financial statement review
An independent Japanese CPA review, primarily through inquiries and analytical procedures, providing a limited assurance conclusion on financial statements.
01 / WHAT WE DO
Scope & purpose
Confirm the intended users and their requirements first. A review cannot replace an audit required by law or contract. For individual settlement amounts or specified items, AUP may be more appropriate.
02 / PROCESS & HANDOFF
How the work progresses
- Confirm purpose and acceptanceEngagement terms, data list and schedule
- Understand the business; inquire and analyseSignificant movements and accounting questions
- Perform additional work where neededResolved matters and evidence for the conclusion
- Issue the review reportReview report and preparation points
Illustrative workflow. The scope and deliverables are agreed for each engagement.
01Confirm purpose and acceptance
Review users, period, accounting framework, deadline and closing arrangements. Consider independence, access to records and engagement conditions.
Output / next handoff: Engagement terms, data list and schedule
02Understand the business; inquire and analyse
Consider accounting policies, important transactions and estimates. Compare prior periods, budgets, ratios and balance movements and discuss explanations with management.
Output / next handoff: Significant movements and accounting questions
03Perform additional work where needed
If matters suggest material misstatement, perform further inquiries or other procedures appropriate to the circumstances. Discuss findings, corrections and management representations.
Output / next handoff: Resolved matters and evidence for the conclusion
04Issue the review report
Evaluate the evidence and express a conclusion under the applicable standards. Share significant matters and agree preparations for the next period.
Output / next handoff: Review report and preparation points
03 / DELIVERABLES
Deliverables & their use
- Review report identifying the statements, responsibilities and limited assurance conclusion
- Significant accounting matters and necessary corrections
- Preparation and timing for subsequent reviews
The package links figures and conclusions to source information and review records. Its precise contents are agreed for the engagement.
04 / DISCUSS YOUR NEEDS
Getting started & engagement conditions
Tell us who needs the report, the period and framework, and when it is due. Available financial statements, trial balance, comparative information, major schedules and staffing arrangements help us scope the engagement. Quarterly, half-yearly or annual reviews can be considered.
The contracting entity and delivery team will be identified in our proposal. Depending on the engagement, the contracting entity may be ICHIYAMA ACCOUNTING OFFICE or 株式会社CP ARCS, of which Manabu Ichiyama is Representative Director.
LET’S TALK
Let’s work out your next step.
You do not need a finalized brief. Start with the challenge or the work you would like to entrust.