Accurate, insightful financial information to support your business success

Financial Statements Preparation Services

We offer basic Financial Statement Preparation Services designed primarily to provide financial statements used by management for limited reporting purposes. Although such financial statements are prepared in accordance with formal Statements on Standards for Accounting and Review Services, they are not subject to more comprehensive attest guidelines for compilation, review, or audit engagements. Therefore, no accountant or auditor report will accompany such financial statements.

We can prepare the statements using any acceptable framework of accounting such as income tax basis, cash basis, or accrual basis. A preparation service may or may not include a cash flow statement or disclosure notes.

Compilation Engagement

The purpose of a Compilation engagement is to compile unaudited financial information into financial statements and financial data that reflect management’s representation of the organization’s historical financial condition and events (or other financial matters) based on information supplied by management.

The Compilation engagement is substantially less in scope than an audit engagement performed in accordance with generally accepted audit standards. Accordingly, the Compilation report gives no assurances about the accompanying compiled financial information.

The Compilation engagement is well suited for those situations where a third party user of the financial statements is satisfied with receiving the organization’s financial information with or without required full disclosures under Generally Accepted Accounting Policies (GAAP) and without the added level of assurance provided by Audit or Review services.

Please call us to discuss how a Compilation engagement may benefit you.

Review Engagement

The Review engagement is designed to provide financial statements that reflect management’s representation of the organization’s historical financial condition and events (or other financial data), with a level of assurance that is less than that resulting from an Audit engagement. The Review engagement is often used as an alternative to the Audit engagement because it provides to management a more practical, and sometimes more affordable, means of achieving a desired level of limited assurance in contrast to the more extensive Audit engagement. Our Firm no longer performs Audit engagements.

In a Review engagement we assist in the preparation and review of financial statements to determine whether they are a credible representation of the organization’s historical financial condition and operating results. The conclusions of our Review are presented in a standard Review report, which provides limited assurances, where applicable, that the financial statements are not misleading and the information presented therein conforms to generally accepted accounting principles.

Peer Review Report