Financial Statement Review Skills Library
By Alexander John, CPA · September 30, 2026
We keep all 22 of our AI skills for reviewing financial statements on this page. There’s a table for each reporting framework (US GAAP, IFRS, IFRS for SMEs and FRS 102) with a separate skill for each entity type: general commercial companies, banks, insurers, investment funds, not-for-profits and real estate. IFRS for SMEs has no bank or insurer skill, because those entities can’t use the standard. Find your framework and entity type, click Request skill and we’ll email it to you for free.
What are financial statement review skills?
A skill is a set of instructions an AI assistant follows for a specific task. Ours tell it what to check when it reviews financial statements under one framework, for one type of entity, so it can flag missing disclosures, numbers that don’t tie and accounting that doesn’t follow the standard.
US GAAP review skills
Six skills for financial statements prepared under US GAAP, built around the FASB Accounting Standards Codification.
General commercial
Revenue, leases, income taxes and the cash flow statement for trading, manufacturing and service companies
ASC 606, ASC 842, ASC 740, ASC 230
Banks
Allowance for credit losses, loan and deposit disclosures, and fair value of financial instruments
ASC 326 (CECL), ASC 310, ASC 942, ASC 820
Request skill
Insurers
Liability for future policy benefits, market risk benefits, deferred acquisition costs and claims development tables
ASC 944, including LDTI
Request skill
Investment funds
Schedule of investments, financial highlights, fair value hierarchy and capital activity for investment companies
ASC 946, ASC 820
Request skill
Not-for-profit
Net assets with and without donor restrictions, functional expenses, contributions and liquidity disclosures
ASC 958
Request skill
Real estate
Rental income, impairment of real estate held at cost, and whether acquisitions are asset acquisitions or business combinations
ASC 842 (lessor), ASC 360, ASC 805
Request skill
IFRS review skills
Six skills for financial statements prepared under IFRS Accounting Standards as issued by the IASB.
General commercial
Presentation, revenue, leases and impairment, including the move to the IFRS 18 income statement
IAS 1 / IFRS 18, IFRS 15, IFRS 16, IAS 36
Request skill
Banks
Expected credit losses and staging, credit, liquidity and market risk disclosures, and fair value
IFRS 9, IFRS 7, IFRS 13
Request skill
Insurers
Measurement of insurance contracts, CSM and liability roll-forwards, and the investment portfolio behind them
IFRS 17, IFRS 9
Request skill
Investment funds
Investment entity status, investments at fair value through profit or loss, and whether redeemable units are equity or liabilities
IFRS 10, IFRS 9, IFRS 13, IAS 32
Request skill
Not-for-profit
IFRS has no standard written for not-for-profits, so this skill focuses on grants and donations, restricted funds and related parties
IAS 20, IAS 24, IAS 8 (policies where IFRS is silent)
Request skill
Real estate
Investment property at fair value or cost, valuation disclosures, lessor accounting and deferred tax on revaluations
IAS 40, IFRS 13, IFRS 16, IAS 12
Request skill
Automate financial statement preparation
IFRS for SMEs review skills
IFRS for SMEs can only be used by entities without public accountability, so there is no skill for banks or insurers. The other four cover the third edition of the standard, effective from 1 January 2027.
General commercial
Revenue, basic financial instruments and inventories, plus the changes made in the third edition
Sections 11, 13 and 23
Request skill
Investment funds
Private funds that don’t sell units to the public: measurement of investments, and consolidation of controlled investees, since the standard has no investment entity exception
Sections 9, 11 and 12
Request skill
Not-for-profit
Grants and donations, restricted funds and related party disclosures
Sections 24 and 33
Request skill
Real estate
Investment property at fair value where it can be measured reliably, leases and deferred tax
Sections 16, 20 and 29
Request skill
FRS 102 review skills
Six skills for UK and Irish financial statements under FRS 102, including the Periodic Review 2024 amendments that apply from 1 January 2026.
General commercial
The 2026 changes to revenue and lessee accounting, plus Companies Act formats and disclosures
Sections 20 and 23, Companies Act 2006
Request skill
Banks
Impairment of loans, financial institution disclosures and the banking formats in the Companies Act regulations
Sections 11, 12 and 34, or IFRS 9 where elected
Request skill
Insurers
Insurance contracts under FRS 103 alongside FRS 102, and the insurance company formats in the Companies Act regulations
FRS 103, FRS 102
Request skill
Investment funds
Portfolio statements, fair value disclosures and the exemption from a cash flow statement for qualifying funds
Sections 7, 11 and 34; IA SORP for authorised funds
Request skill
Not-for-profit
Charities preparing accounts under the Charities SORP: statement of financial activities, restricted and unrestricted funds, and the trustees’ annual report
Charities SORP (FRS 102)
Request skill
Real estate
Investment property at fair value through profit or loss, deferred tax on revaluations and the new lease requirements
Sections 16, 20 and 29
Request skill
How to install and use the skills
Each skill comes as a ZIP file. Don’t unzip it, just upload it to the AI tool you use. Steps last checked in September 2026.
Claude
Go to Customize > Skills.
Click +, then choose Create skill > Upload a skill.
Pick the ZIP file.
Code execution has to be switched on (Settings > Capabilities). Skills work on every Claude plan, including Free.
ChatGPT
Open Plugins in the sidebar.
Go to the Skills tab.
Click Create > Upload from your computer and pick the ZIP file.
Skills are available on Business, Enterprise and Edu plans, and your admin may need to switch them on first.
Microsoft 365 Copilot
Here skills sit inside an agent.
In Copilot Chat, open Agents & Skills > New agent.
In Configure, expand Skills and click Add.
Upload the ZIP file.
It’s still in preview, so it only works if your company has Microsoft 365 Copilot and has joined Microsoft’s Frontier early access.
Run a review
Once it’s installed, attach your draft financial statements and ask for a review, for example “Review these IFRS financial statements for an insurer”. The tool should pick the right skill on its own. If it doesn’t, name the skill in your prompt.
Disclaimer of Liability: This publication is intended to provide general information to our clients. It does not constitute accounting, tax, investment, or legal advice; nor is it intended to convey a thorough treatment of the subject matter. The skills help with review. They don’t replace the judgement of the person signing off the financial statements.
