Financial Statement Compilation Services

A compilation engagement is a service to assist you in organizing financial data and preparing financial statements.

While both involve compiling financial statements, an NTR includes a notice to readers indicating no assurance is provided, whereas a Compilation does not have such a notice but may still lack assurance.

We gather financial data provided by you and organizes it into financial statements according to the applicable financial reporting framework (e.g., GAAP or IFRS). Our accountant does not perform verification procedures or provide assurance on the accuracy or completeness of the financial information.

Compilation engagements provide businesses with organized financial statements that can be useful for internal decision-making, obtaining financing, or meeting regulatory requirements. They are typically more cost-effective than review or audit engagements and can help improve financial transparency and reporting efficiency.

Yes, it’s important to understand that compilation engagements do not provide any assurance on the accuracy or completeness of the financial statements. They are solely based on information provided by the client and may not detect errors, fraud, or other discrepancies in the financial data.

Regulations may vary depending on the jurisdiction, but generally, both services involve compiling financial information without providing assurance and may be subject to similar standards and guidelines.