Compilations and Reviews
Enhancing Your Financial Credibility
Closely held businesses have assurance needs that often don’t require an audit. As an alternative, we can meet your needs by providing reviews or compilations that are less in scope than an audit and designed specifically for smaller businesses.
We follow the AICPA’s Statements on Standards for Accounting and Review Services, which establish the following guidelines:
- Limit compilations to reading a company’s financial statements, as provided by management, and considering whether they are in an appropriate form and free from obvious errors
- Add to review engagement inquiries about company personnel and analytical procedures to financial data, as well as limited assurance on the financial data
- Explain the limited scope in the report that accompanies the compiled or reviewed financial statements
Benefits of Working with Hein
- Reliable reports of your financial performance, allowing you to save the time and cost of a full audit
- Expert advice on which alternative (compilation, review, or audit) is the most appropriate and cost-effective option, enabling you to choose a common sense approach thus minimizing the disruption to your company
- Compliance with professional standards, independence and ethics requirements, giving you confidence that your report is thorough and efficient
Please contact us for more information.