The compilation is the most basic form of attestation a CPA firm can provide for your financial statements. Compilations require less time than an audit or review because it maintains fewer requirements and has fewer components.
Compilations do not require a review of your transactional detail, only a high-level understanding of your company and operations. And with proper disclosure, you may omit certain items from the compilation financial statement package.
Although a compilation is the most basic of attestation services, it can be a powerful management tool when prepared properly.
In a compilation, the CPA does not provide an opinion on your financial statements, but creates them on behalf of management. Due to our comprehensive accounting knowledge, we provide the right information for you to tell a compelling company story–all while remaining in accordance with accounting principles and standards.
Forbush & Associate Compilations Include:
- Obtaining a set of accounting records maintained by your company
- Creating financial statements including the balance sheet, income statement and statement of cash flow in accordance with general accepted accounting principles
- Preparing footnotes and disclosures from the underlying accounting records
To assure you the most accurate accounting knowledge and efficient practices, Forbush and Associates routinely undergoes peer review. We proudly maintain a history of successful reviews.
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