Many of our clients require some level of “assurance” for various purposes. It may be an audit, review or compilation. Briefly, an audit provides the highest level of assurance available, extensive verification procedures and an opinion on the financial statements provided by a CPA. A review requires only limited verification procedures and does not require the opinion of a CPA.
Compilations, on the other hand, provide neither assurance nor an opinion on the accuracy of the financial statements. Typically, the purpose of a compilation is to gather company financial data and format it into a properly structured set of financial statements.
Allan Smith & Company, CPAs PC accounting professionals regularly provide compilations; monthly, quarterly or annually, depending on the needs of your business. You can rely on Allan Smith & Company, CPAs PC to put our knowledge of your business to work for you, and produce compilations that offer value and information that you and your business partners can use.