Audit related services are review of financial statements, compilations, agreed-upon procedures, review, examination of prospective financial information, special purpose audit engagements. 

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- Review of financial statements – includes the review on financial position (balance sheet), income statement, cash flow statement, statement of changes in equity and notes to the financial statements. The objective of a review it to enable an auditor to state whether, on the basis of procedures which do not provide all the evidence that would be required in an audit, anything has to come to the auditor’s attention that to cause the auditor to believe that the financial statements are not prepared, in all material respects, in accordance with the applicable financial reporting framework.

-compilation on financial information – in general the engagement is for the professional accountant to use accounting expertise, as opposed to auditing expertise, to collect, classify and summarize financial information. This ordinarily entails reducing detailed data to a manageable and understandable form. The work ordinary include the preparation of financial statements (which may or may not be a complete set of financial statements). The compilation engagement may also include the collection, classification and summarization of other financial information.

-agreed upon procedures – the objective of the engagement is for the auditor to carry out procedures of an audit nature to which the auditor and the entity  and any appropriate third parties have agreed and to report on factual findings. The agreed procedures may include procedures only with individual items, for example conformation of the balances of suppliers, receivables, related parties, with part of financial statements (balance sheet), or even a complete set of financial statements.

- an examination on prospective financial information include examination on Management’s best-estimate assumptions on which the prospective financial information is based.

Prospective financial information can include financial statements or one or more elements of financial statements and may be prepared as an internal management tool, or to be distributed to third parties.

-special purpose audit engagements – including an audit on financial statement prepared in accordance with a comprehensive basis of accounting other than International accounting standards; specified accounts, elements of accounts, or items in a financial statement; compliance with contractual agreements; summarized financial statements.