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AGENDA FOR THE LOUISIANA USED MOTOR VEHICLE COMMISSION REGULAR MEETINGDATE:May 16, 2016TIME:9:30 a.m.PLACE: Louisiana Used Motor Vehicle Commission3132 Valley Creek Riverton Rouge, LA 70808I. CALL
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A review of financial report is an evaluation of the financial statements of an organization, providing a moderate level of assurance that they are free from material misstatement.
Organizations that are not required to undergo a full audit but need to provide assurance to stakeholders, such as small businesses or those seeking financing, are typically required to file a review of financial report.
To fill out a review of financial report, one must prepare the financial statements, analyze them for accuracy, and possibly include a summary of significant findings or an independent accountant's report.
The purpose of a review of financial report is to enhance the credibility of the financial statements, providing stakeholders with an assurance that the financial information is a fair representation of the organization's financial performance.
The review report must include the financial statements, management’s discussion and analysis, any modifications made as a result of the review, and the accountant's conclusion based on the review.
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