Certified – $124,000 or less – financial statements and certain specific line items from income tax returns are required, both of which are certified by the principal executive officer of the company. (The cost for this is minimal or nothing.)

Reviewed – $124,000.01 to $618,000 – financial statements are reviewed by an independent public accountant and the accountant’s review report is provided as well as certification by the principal executive officer of the company. A review is some level of scrutiny of the financials by a CPA. (The cost of this can be anywhere from $1,000 – $5,000)

Audited – $618,000.01 to $5 million – if first time crowdfunding, then financial statements reviewed by an independent public accountant and the accountant’s review report if available are disclosed for offerings up to $1.235M: otherwise financial statements audited by an independent public accountant and the accountant’s audit report must be prepared and disclosed. An audit provides a higher level of scrutiny by the accountant than a review as well as some verification by the accountant. (The cost of this can be anywhere from $10,000-$40,000)

Please note there are certain situations that allow an Issuer to raise the allowable limits for certified and reviewed financials. Be sure to check with an attorney or knowledgeable CPA to make this determination.

The cost of services listed above are estimates and are meant as a general reference only.