Compiled Financial Statements

What is a compiled financial statement? Financial statements (balance sheet, profit and loss, cash flows and footnotes) prepared by an accountant based on the amounts provided by a client. The accountant doesn’t review/audit the amounts provided. They are not designed to provide assurance regarding the information in the financial statements.

A compilation engagement may address a complete set of financial statements or an individual statement.

The documentation provided by the CPA should include any significant issues, engagement letter and communicate any fraud or illegal acts.

Why is this done? To ensure the financials are subject to an outside party (trusted CPAs with accounting knowledge and experience). The firm’s signature goes on the issued report.

We also offer reviewed financial statements.

It is a good idea to have your financial information compiled

For a compilation report, we take financial data provided by you and prepare your financial statements without audit. We do not review the numbers for accuracy nor state an opinion regarding the accuracy of the information. It is a good idea to have your financial information compiled when you are trying to get a business loan. Banks often require compilations from an independent CPA as part of their lending covenants.

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  • Greg Wilson has been doing my taxes for my small business for years. He is thorough and helps me navigate the difficulties of calculating my taxes. I would recommend him to anyone in need of a CPA.
  • I have been with Greg Wilson and Associates for over 10 years. When I first used their services I was in great need for guidance and structure with my financial path, in which they clearly provided. They have always been available to answer my questions so that I can make informed decisions. Thank you Greg, Ken and Nancy.
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