We can provide two different levels of compiled financial statements services based upon the needs of the business to report to its financial statement users.
- Management Use Only (Internal Use Only)
- External Use (Third Party Users)
In compiling financial statements for a client, we present information that is the "representation of management" and express 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 principals and a general understanding of your business.
Management Use Only
This type of service provides financial statements that are strictly for internal use by the management of the business for utilization in their daily operating activities. These financial statements will have a footnote on the face of each statement indicating "Management Use Only" and do not include an accountants' report. These statements are not to be given to stakeholders or outside interests of the business.
Compilations for External Users
Banks often require compilations from an independent CPA as part of their lending covenants. As well stakeholders and other outside interests in the business may require financial reporting prepared by an external CPA. This type of service provides financial statements that may be reproduced and distributed to outside parties, will include a footnote on the face of each statement indicating "See Accountants' Compilation Report", and will include the accountants' report.
Contact us for more information.
