Review Certificate Template for Growth Grants
An example of an application and / or annual review certificate required to be provided by a registered practicing charted accountant is set out below.
REVIEW REPORT TO THE DIRECTORS OF [XXX] LIMITED
We have reviewed the Research and Development Intensity and Research and Development Expenditure Schedule (the ‘Schedule’) for [XXX] Limited (the ‘Company’) and its subsidiaries (the ‘Group’) which outline the operating revenue and research and development expenditure of the Group for the year/s ended [date/s]. The information presented on page X of the Schedule is stated in accordance with the accounting policies set out on page X of the Schedule.
This report has been prepared solely for your exclusive use and solely for the purpose of assisting you with your grant application. We understand that this report has been requested by you solely for this purpose. We agree that a copy of this report may be provided to Callaghan Innovation for their information in connection with this purpose but, we do not accept any duty, liability or responsibility to Callaghan Innovation in relation to this report. This report is not to be used for any other purpose, recited or referred to in any document, copied or made available (in whole or in part) to any other person without our prior written consent. We accept or assume no duty, responsibility or liability to any party, other than you, in connection with this report, including without limitation, liability for negligence.
Board of Directors’ Responsibilities
The Board of Directors are responsible for the preparation of the Schedule in accordance with the accounting policies as set out on page X of the Schedule for the year/s ended [date/s] and for such internal control as the Board of Directors determine is necessary to enable the preparation and fair presentation the Schedule that is free from material misstatement, whether due to fraud or error.
Our Responsibilities
[Alternative 1 – where the assurance practitioner is not the auditor of the Company]
Our responsibility is to express a conclusion on the Schedule based on our review. We conducted our review in accordance with ISRE (NZ) 2400 Review of Historical Financial Statements Performed by an Assurance Practitioner who is not the Auditor of the Entity (ISRE (NZ) 2400). ISRE (NZ) 2400 requires us to conclude whether anything has come to our attention that causes us to believe that the Schedule is not prepared, in all material respects, in accordance with the accounting policies as set out on page X of the Schedule. ISRE (NZ) 2400 also requires us to comply with relevant ethical requirements.
A review of the Schedule in accordance with ISRE (NZ) 2400 is a limited assurance engagement. The auditor performs procedures, primarily consisting of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures.
The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (New Zealand). Accordingly we do not express an audit opinion on the Schedule.
Other than the provision of [detail other services provided] services, we have no relationship with or interests in the Company or its subsidiaries.
[Alternative 2 – where the auditor of the Company performs the review]
Our responsibility is to express a conclusion on the Schedule based on our review. We conducted our review in accordance with NZ SRE 2410 Review of Financial Statements Performed by the Independent Auditor of the Entity (NZ SRE 2410). NZ SRE 2410 requires us to conclude whether anything has come to our attention that causes us to believe that the Schedule is not prepared, in all material respects, in accordance with the accounting policies as set out on page X of the Schedule. As the auditor of the Company, NZ SRE 2410 requires that we comply with the ethical requirements relevant to the audit of the annual financial statements.
A review of the Schedule in accordance with NZ SRE 2410 is a limited assurance engagement. The auditor performs procedures, primarily consisting of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures.
The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (New Zealand). Accordingly we do not express an audit opinion on the Schedule.
Other than the provision of [detail other services provided] services, we have no relationship with or interests in the Company or its subsidiaries.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the Schedule does not present fairly, in all material respects, the operating revenue and research and development expenditure of the Group for the year/s ended [date/s] in accordance with the accounting policies as set out on page X of the Schedule.
[date]
CHARTERED ACCOUNTANTS
[REGION]