Stockholders, creditors, and private investors often need assurance that the
financial statements accurately represent the true financial position of a company.
In compiling financial statements for a client, we present information that is the "representation
of management" and expresses 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 principles and a general
understanding of your business.
Banks often require compilations from an independent CPA as part of their lending covenants.