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Reviewed Financial Statements

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A review consists principally of inquiries of the Organization's personnel and analytical procedures applied to financial data. It is substantially less in scope than an audit, but still provides limited assurance that the financial statements are materially free from misstatements. Unlike an audit, no opinion regarding the financial statements taken as a whole is expressed.

Because it is less expensive than an audit, is comprehensive without involving the disclosures required by an audit, and still provides assurance on the financial statements that third parties can rely on, a review is often preferable to an audit for the purposes of obtaining funding from banks or other lending institutes. It should be kept in mind, however, that a review provides only limited assurance regarding the financial statements, and many lending institutions do not accept them in place of an audit.

Cynthia Cox has performed the annual financial audit for Metropolitan Baptist Church for the past nine years. As Finance Manager for the church, I have had the pleasure of providing her financial information to complete her task for the past six years. She has shown herself to be a thoroughly professional individual; her integrity is above reproach. In working on the audit, Mrs. Cox has gone above and beyond her job in helping us set procedures to ensure the church staff members perform their duties in compliance with IRS guidelines. While this is not necessarily part of the audit process, it has been extremely valuable. Mrs. Cox knows all aspects in the church business arena and is adept at passing that information on as needed. I hope to work with Mrs. Cox for many years to come. - Jean Bellow, Finance Manager Metropolitan Baptist Church, Houston, TX