Limited Assurance Services

Review Engagements (NV COS 2400)

Cost-effective assurance engagements providing limited assurance on financial statements through analytical review and targeted inquiries.

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AFM Licence 13020177 • RegisterAccountant Lead • Dutch NV COS Standards

AFM Licence 13020177

Official Licence to conduct Statutory Audits under Dutch Law

Methodology & Standards

Structured Execution with Senior Partner Leadership

Cost-effective assurance engagements providing limited assurance on financial statements through analytical review and targeted inquiries.

Standard NV COS 2400 (Review Engagements)

Assurance Level Limited Assurance (Negative Formulation)

Procedure Type Plausibility, Analytics & Inquiry

Report Type Independent Practitioner’s Review Report

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01 Analytics

Analytical Review & Ratio Testing

Comprehensive comparative analysis of balance sheet movements, operating margins, and accounting variances.

02 Inquiry

Management Inquiries

Targeted interviews with finance leadership regarding revenue recognition, subsequent events, and commitments.

03 Reporting

Independent Review Report

Delivery of a formal practitioner review report providing credible confirmation without full audit disruption.

NV COS 2400 REVIEW ENGAGEMENTS

Limited Assurance with High-Impact Credibility

Cost-effective independent examination of financial statements through rigorous analytical review and structured management inquiry.

Independent Practitioner’s Review Report (NV COS 2400)

Comprehensive Financial Statement Analytical Procedures

Balance Sheet & Working Capital Plausibility Inquiries

Accounting Policies & Dutch GAAP (RJ) Compliance Check

Lender & Credit Facility Covenant Verification

Management Advisory on Financial Presentation & Disclosures

Determine if a Review Engagement Suits Your Requirements

OUR REVIEW ENGAGEMENT PROCESS

A Streamlined 4-Step Analytical Methodology

We focus on deep analytical plausibility and technical accounting inquiry, providing meaningful assurance with minimal demands on your internal accounting staff.

1. Scoping & Framework Identification

Clarifying stakeholder requirements, materiality benchmarks, and applicable reporting standards (Dutch GAAP RJ or IFRS).

2. Digital Ledger Extraction & Analytical Ratio Review

Ingesting trial balances to identify unusual variances, margin fluctuations, and balance sheet trends.

3. Targeted Management Inquiry & Substantiation

Interviewing key finance personnel regarding revenue recognition, valuation estimates, and subsequent events.

4. Independent Review Report Sign-Off

Issuing an authoritative limited assurance statement formulated in accordance with Dutch professional standard NV COS 2400.

Pragmatic Independent Assurance

Review engagements require seasoned accounting judgment to detect inconsistencies through analytical review without exhaustive substantive sampling. Led directly by registered Dutch RegisterAccountants (RA), our reviews provide banks, investors, and supervisory committees with dependable negative assurance while keeping engagement costs and administrative disruption proportionate to your business size.

Key Questions

Frequently Asked Questions

Clear answers from our partners regarding standards, procedures, and timelines.

Assurance Level

What is the difference between an audit and a review engagement?

An audit provides reasonable (positive) assurance based on extensive substantive testing and internal control evaluation. A review provides limited (negative) assurance under NV COS 2400 based primarily on analytical review and structured inquiry.

Bank Acceptance

Will banks and credit committees accept a review report?

Many commercial banks and financing institutions accept an independent review report under NV COS 2400 for mid-market credit facilities, working capital loans, or lease facilities where a full statutory audit is not mandated.

Procedures Performed

What specific procedures are carried out during a review?

Our procedures center on analytical comparison of current vs historical figures, ratio analysis, plausibility checks, review of board minutes, and detailed inquiries into significant accounting estimates and subsequent events.

Time Commitment

How much time does a review require from our internal finance team?

Because a review does not involve sample-based invoice tracing or physical inventory counts, client preparation time is substantially less than a full audit, typically requiring only a few days of collaborative review.

Reporting Standards

Which accounting standards can a review report cover?

Reviews can be performed on financial statements prepared under Dutch GAAP (RJ), IFRS, or other established financial reporting frameworks.

Future Transition

Can a review be upgraded to an audit if our company grows?

Yes. Because our workpapers adhere to strict Dutch quality standards, the analytical insights gathered during a review provide an excellent baseline should your company transition to a statutory audit in subsequent years.

Report Formulation

How is the final review conclusion phrased?

In accordance with NV COS 2400, the report states that nothing has come to our attention that causes us to believe the financial statements do not give a true and fair view in accordance with the applicable accounting framework.

Cost Comparison

How do review engagement fees compare to a full audit?

Due to the focused scope and analytical methodology, review fees are significantly more cost-effective than a full statutory audit while delivering certified independent credibility.

Ready to Discuss Review Engagements (NV COS 2400)?

Speak directly with an engagement partner.

Receive a clear, fixed-fee proposal from Tjerk Wolsak RA or Sven Steijn RA.

Request a Proposal → Call Direct Partner Line (+31 85 026 10 17)

Direct partner line: +31 85 026 10 17 • info@justaudit.nl • Hoofddorp & Harderwijk