In a compilation engagement, we assist the company in presenting their financial position and results of operations in the form of a financial statement. The information presented is based entirely on the representation of management. The information is not audited or reviewed and accordingly are not designed to provide assurance on the underlying financial numbers but to reflect the performance and financial position of an organization.
ICS assesses whether material modifications should be made to a company’s financial statements in order to conform to the Statements on Standards for Accounting and Review Services (SSARS).
Financial statement compilations are often prepared when a third party, such as a bonding agent, investor or bank, requires a company to provide their financial information in the form of a financial statement.