Compilation Assignment Services

In order to begin a compilation assignment, we first ask for the basic financial information that will be used to form the basis of your compiled statements. This usually means your trial balance, general ledger, chart of accounts, bank statements, invoices, expense summaries, payroll information and supporting documents your team may have already prepared. If your business keeps financial information in accounting software, we may also ask for system exports in order to ensure accuracy and consistency. Before starting, we send a clear checklist so your team knows exactly what to share – making the process organized and efficient. Since a compilation is not an audit, we take your data at face value without going deep into the verification process. Our job is to make your information look good and professional. Through our compilation assignment solution, we make sure that your records are converted into clean and compliant financial statements for use by either internal or external auditors.

This is a matter of how soon the information can be gathered and indirectly depends on the completeness of your financial information, your business, and whether you need financials on a monthly, quarterly, or annual basis. For most organizations, compiled statements can be prepared in a matter of a few days to weeks once we receive all the necessary information for this purpose.

If there are any formatting changes required for the records, more time may be needed. Our team works efficiently by reviewing your data, prepares draft statements, and coordinates any follow-up requests in a timely manner. Throughout the process, we offer a clear level of communication so you know in advance the expected timeline of delivery. Due to the absence of verification and testing in the process involved the turnaround is faster than audits or reviews. With our streamlined compilation assignment services, you get well-structured financial statements within an agreed schedule that helps you meet the deadlines of submissions for internal reporting cycles without any stress.

Yes, we can help even if your bookkeeping is not complete, late or not at all set up. Our compilation engagement is based on the financial information supplied by your business where our team assists in the organization and presentation of the information. If there are any records that are missing or are not clear, we will direct your team as to what needs to be changed or fixed before we go further. We can also help categorize transactions, balance out and set the structure of your ledgers when needed. However, it is important to recognize that a compilation does not involve verifying accuracy and identifying errors – that is left to the management. Our role is to put your data together, and put it in the proper format, professionally. Businesses often use our compilation assignment solution as a way to bring their financial statements into a clean, presentable format even if there are gaps in the bookkeeping, making the process more manageable and less overwhelming.

In many cases, yes. Banks, lenders and investors tend to accept the compiled financial statements for initial evaluation, general credit review or internal screening procedures. A compilation gives you a structured presentation of your financial information which makes it easier for the external stakeholders to understand your results and financial position. However, some institutions may require audited or reviewed financial statements based on the size of the loan, level of risk, or internal policies. During our engagement we help you understand the type of format that is appropriate for your specific requirement. Our compiled statements adhere to professional reporting standards and have essential notes and disclosures if requested. Through our compilation assignment services, you receive statements that are clear, consistent and professionally formatted, making them suitable for most external submissions or preliminary financial assessments.