Compilation Preparing Financial Statements Based on Client-Provided Data Stockholders, creditors, and private investors often require assurance that financial statements accurately represent the true financial position of a company. Your stockholders, creditors, or private investors have different levels of risk tolerance — we provide three levels of assurance to address your needs. Compilation - Lowest Level of AssuranceIn compiling financial statements for a client, we present information that is the "representation of management" and expresses no opinion or assurance on the statements. Compilations don't require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business. Banks often require compilations from an independent CPA as part of their lending covenants. Other levels of assurance: Audit - The Highest Level of Assurance Which Report Should You Use? Each type of financial statement report may suit specific circumstances, depending on requirements from your client's bank or other parties, as well as meet budgetary needs. Contact us to learn which one is right for you. |