Bookkeeping Health Check vs CPA Review

Q: Will lenders accept a Health Check instead of a review?

Some lenders accept clean internal financials; many require a CPA review or audit. Ask the lender. We will coordinate either path.

Q: How fast can the Health Check be completed?

Typically in a few business days after access. You receive corrections where authorized and a written action plan.

You want accuracy and confidence. But do you need a fast, practical health check—or a formal CPA review? Here’s the clear, no-jargon breakdown so you choose the right level of service, at the right moment, for the right outcome.

Short answer: If you need speed and fixes without CPA-level attestation, book a Bookkeeping Health Check. If a lender or board requires assurance, engage a CPA for a review or audit. We can coordinate both paths.

Quick Definitions (Plain English)

Bookkeeping Health Check (Polaris)

An advisory service—we diagnose bookkeeping issues (negative balances, broken reconciliations, misclassifications), correct what we can quickly, and hand you a prioritized action plan. No CPA attestation.

CPA Review (Public Accounting Firm)

A limited assurance service performed by CPAs under professional standards. The CPA inquires and performs analytical procedures to conclude whether they are aware of any material modifications needed. Provides a formal report for stakeholders.

CPA Compilation (for context)

A service where a CPA assembles financial statements from management information without providing assurance. Often used for basic reporting needs when no assurance is required.

Side-by-Side Comparison

Dimension	Bookkeeping Health Check (Polaris)	CPA Review
Purpose	Find & fix bookkeeping errors fast; restore accuracy; create a preventative roadmap.	Provide limited assurance that no material modifications are needed for the statements.
Who Performs	Enrolled Agents / experienced accounting professionals (non-CPA; advisory).	Licensed CPAs at a public accounting firm.
Scope	Diagnostics, corrections, reconciliations, control checks, documentation.	Inquiries & analytical procedures; no testing like an audit, but formal report issued.
Assurance Level	None (advisory only).	Limited assurance (negative assurance wording in the CPA’s report).
Use Cases	Tax readiness, internal clarity, pre-lender cleanup, system migrations.	Lender, investor, or board requires an assurance report.
Speed	Days (after secure access).	Weeks, depending on firm timing and requests.
Deliverables	Corrections where authorized + prioritized action plan + owner checklist.	CPA review report addressed to stakeholders + financial statements.
Regulatory Framework	Advisory best practices; not an attestation service.	Professional standards for reviews (attestation by CPAs).

Which One Do You Need?

Choose a Bookkeeping Health Check when you want accuracy fast, your books feel “off,” you see negative balances, reconciliations don’t tie out, or tax season is approaching.
Choose a CPA Review when a bank, investor, or board specifically requests a CPA’s review report—or when your internal policies require formal assurance.
Do both (sequentially) if you need the CPA review but your books aren’t clean yet. Start with the Health Check to stabilize and document, then engage a CPA for the review.

Not sure which path fits? Book a quick call. We’ll recommend the right level and, if needed, connect you with a trusted CPA firm for the review. Schedule a consult.

How the Bookkeeping Health Check Works

Secure Access: Share QuickBooks, Xero, or exported ledgers.
Deep Diagnostic: Balance sheet, reconciliations, entries, tax mapping, and control checks.
Corrections: We fix what we’re authorized to fix immediately.
Action Plan: Prioritized remediation with owners and dates.
Optional Advisory: Light monthly checkups to keep standards locked.

This is an advisory engagement—no CPA assurance. If you later need a review, clean books make that process faster and smoother.

Ready to eliminate uncertainty? Start your Bookkeeping Health Check or schedule a consultation.

Risks of Confusing the Terms

Compliance risk: Telling lenders you had a “review” when you didn’t can jeopardize financing.
Cost risk: Requesting a review before cleaning your books leads to delays and rework.
Decision risk: Relying on messy books produces bad choices—long before any assurance report is issued.

Language matters. So does sequence. Clean first; attest if needed.

FAQs

Does a Bookkeeping Health Check replace a CPA review?

No. A Health Check is advisory—no assurance. It prepares your books so that, if you need a CPA review, you’re ready.

Will lenders accept a Health Check instead of a review?

Some will accept clean internal financials; many require a CPA review or audit. Ask the lender. We’ll coordinate either path.

Can Polaris coordinate a CPA review after the Health Check?

Yes. We can introduce you to a CPA firm and provide clean books and documentation to streamline their work.

How fast can the Health Check be completed?

Typically in a few business days after access. You get corrections where authorized and a written action plan.

What systems do you support?

QuickBooks Online/Desktop, Xero, and exported ledgers. We work nationwide with secure, remote access.

Helpful Articles

This post is part of our Bookkeeping Health Check series. Start with the main page, then explore the related articles below.

Important Disclaimer

The Bookkeeping Health Check is an advisory service. It is not a CPA review, compilation, or audit and does not provide assurance. If you require a CPA review or audit, Polaris will coordinate with a licensed CPA firm after your books are clean and ready.