Compilation & Review Services

Our financial reporting assurance services offer an accurate picture of your company’s true financial standing, providing an opportunity to increase efficiency and maximize profitability.

Our compilation services focus on providing your management with assistance in  assembling and compiling financial information from your company’s records and presenting financial statements. In compliance with Statements on Standards for Accounting and Review Services (SSARSs), our accountants fulfill the requirements of having adequate knowledge of the industry and field that your company operates in, gathering all relevant client information and reading all financial statements. Our accountants also consider whether all financial statements are without obvious material errors and have been presented in the appropriate format.

The final step is the issuance of a report confirming that the compilation was carried out in full accordance with the requirements of Statements on Standards for Accounting and Review Services (SSARSs), without expressing a professional opinion of or assurance on, the statements.

A compilation provides a basic level of financial reporting assurance that may be sufficient to meet management requirements or satisfy the needs of other parties.  For example, compilations are often required by banks as a component of their lending covenants. Unlike in the case of audits and reviews however, compilations do not require analysis or inquiries of management.

In the case that stockholders, private investors, creditors or other interested parties require a higher level of assurance, we would advise you to consider our review or audit services.

In cases where a compilation may not meet the level of assurance you require, a review is an ideal choice. We provide professional review services that add the carrying out of inquiry and analytical procedures to the procedures included in a compilation.

In addition to this, we issue a report upon completion of the procedure, expressing that the review has been carried out in fullaccordance with the professional standards required by the American Institute of Certified Public Accountants (AICPA). This report also acknowledges that a review offers less scope than an audit and that we are not aware of any material modifications required for the conformity of the financial statements to Generally Accepted Accounting Principles (GAAP) or other applicable basis of accounting. In this way, we provide you with the limited assurance not offered by a compilation. The level of assurance provided by a review is optimal when banks, trade creditors or outside investors ask for more assurance than a compilation can offer, but do not require audited statements.

Please contact us for advice and assistance in selecting the most appropriate level of assurance services for your particular situation.