Access to review materials: Overview, definition, and example
What is access to review materials?
Access to review materials refers to the right or ability to examine, inspect, or evaluate documents, records, or other relevant materials related to a specific process, project, or transaction. In business and legal contexts, access to review materials is often granted to parties involved in agreements, audits, due diligence processes, or other assessments. These materials can include financial statements, contracts, reports, or any other documentation needed to evaluate a situation or make informed decisions.
In simpler terms, access to review materials means having permission to look at important documents or information that help you understand a situation, make decisions, or assess something.
Why is access to review materials important?
Access to review materials is important because it ensures transparency, accountability, and informed decision-making. Whether you're a business owner, auditor, or investor, being able to review relevant materials allows you to evaluate risks, verify facts, and make informed choices. Without proper access to necessary documents, parties may miss important details, which can lead to misunderstandings, disputes, or poor decisions.
For SMB owners, providing access to review materials is crucial when sharing financial records, contracts, or other important information with stakeholders, auditors, or partners, ensuring that all parties can make sound, informed decisions.
Understanding access to review materials through an example
Let’s say your business is undergoing an audit, and the auditor needs access to your company’s financial statements, tax returns, and accounting records. The auditor is granted access to review materials, allowing them to examine these documents thoroughly to assess your business’s financial health and compliance with regulations. By providing this access, you ensure that the auditor can complete their work accurately and that your company complies with auditing standards.
In this example, access to review materials helps the auditor perform their job effectively and ensures that your business is transparent and compliant.
Example of an access to review materials clause
Here’s an example of what an access to review materials clause might look like in an agreement:
“The Company agrees to provide the Investor with reasonable access to all relevant review materials, including financial statements, business records, and contracts, during the due diligence process. The Company will make these materials available within [X] days of the request, and the Investor may review them at a mutually agreed-upon location or remotely.”
Conclusion
Access to review materials is a key part of ensuring transparency and making informed decisions in business and legal contexts. For SMB owners, understanding when and how to grant access to materials can help maintain trust, compliance, and efficient decision-making. By providing the necessary documents and records, businesses can foster transparency and cooperation with partners, auditors, or investors, ultimately supporting better business practices and relationships.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.