What Is a Compilation?
A compilation is the most basic level of service Whalen CPAs offers and includes assistance with presentation of financial information without assurance.
Privately held companies typically request compilations when lenders or other parties request more formalized financial reporting.
- We work to assist your team in managing and presenting monthly, quarterly or annual financial statements in accordance with applicable financial reporting framework.
- This information is represented without any express assurance from our firm about whether the financial statements require material modifications.
- A compilation does not include inquiry, analytical procedures and other procedures performed in a review; it does not include any statement of understanding of an organization’s internal controls, fraud risk, testing of accounting records or other procedures performed in a full audit.
- A compilation provides a “common sense” look at the organization’s accounting system.
Contact Whalen CPAs today to learn more!