Compilations & Reviews
Not every company needs an annual financial statement audit. Often times, companies are requested to have a review or compilation performed instead. These less invasive assurance services are often completed by management at the request of creditors, vendors, financial institutions or other business partners. Whether it’s the first review/compilation conducted or its part of the yearly routine, Wilson Lewis is here to help. Our team has years of experience conducting both compilations and reviews in accordance with AICPA and other regulatory standards. The end result is a report that satisfies the needs of the requesting party.
A review evaluates your company financial statements using inquires, analytical processes combined with specific business and industry knowledge. The scope of a review is much less invasive than that of an audit, but does still require that Wilson Lewis provides level of assurance that the information presented in the statement has no material modifications that need to be made.
A compilation is the least intrusive process that a company can undergo. Our role is to compile financial data from accounting software or records and frame it using generally accepted accounting principles (GAAP) in the form of a financial statement. In this service, Wilson Lewis does ot express any opinion about the accuracy or validity of the financial information being presented.
Undergoing a review or compilation does not have to be difficult process. However, it’s important to retain a firm that has experience in the area. If you have questions about a review or compilation, or the steps involved in the process, Wilson Lewis is here to help. For additional information please contact us 770- 476-1004, or click here to contact us. We look forward to answering your questions and addressing concerns.