A detailed examination of your compiled financial statements can help you...
- Satisfy stakeholders such as employees, customers, suppliers and pressure groups, as well as the
investing community, as to the credibility of published information.
- Facilitate the payment of corporate tax, goods and services tax, and other taxes on-time and accurately,
thereby avoiding interest, penalties, and investigations.
- Comply with banking covenants.
- Help deter and detect material fraud and error.
- Facilitate the purchase and sale of businesses.
In 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.
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.
Understanding each report's unique strengths and weaknesses can help you choose the most appropriate one. Please call if you have questions about which type of report is right for you.
