Reviews and Compilations

Reviews
In many instances, a review engagement is sufficient for a client company and its creditors. We review a company’s financial statements and issue a report giving a limited degree of assurance.

To perform a review, we are required to have a working knowledge of your industry and key aspects of your business. We make inquiries relating to the financial statements and then apply analytical procedures designed to identify unusual items or trends that may need explanation. A review is designed to see whether the financial statements make sense, without applying audit-type tests.

Compilations
A compilation involves taking financial information provided by a company and compiling it in financial statement format. A compilation carries no degree of assurance; yet, it is adequate for certain purposes.

We first familiarize ourselves with accounting practices common to your industry and acquire a general understanding of your company’s transactions and how they are recorded. We then compile the financial statements and give them a professional second look, without applying audit-type procedures