Compilation

Compilation requires the assembling of financial data from your accounting records and presenting, in the form of financial statements, information that is the representation of management (owners) without undertaking to express any assurance on the statements. A compilation is a low-intensity report about a business’ financial statements. Compilation services do not require a thorough review or an assessment as to the accuracy of the financial information. Depending on the business and the requester’s reason for asking to see financial statements, we can work with the business to provide a full disclosure report that includes policies and footnotes explaining particular amounts in the financial statements. Banks often require compilations from an independent CPA as part of their lending covenants.