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Compiled Financial Statements

What is a compiled financial statement? Financial statements (balance sheet, profit and loss, cash flows, and footnotes) are 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, an 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.

ACCOUNTING - TAX - ADVISORY - AUDITS

What Our Clients Say

Stephen Murphy
Stephen Murphy
July 29, 2017
Trusted, dependable cpa firm, highly recommended!
Chuck Bolotin
Chuck Bolotin
July 26, 2017
I highly recommend Greg Wilson for any accounting or business needs. I have used Greg's services for more than 20 years and found him to be very steady, knowledgeable and professional. In addition, to my complete and happy surprise, Greg found a deduction I was completely unaware of that saved me about $50,000 in taxes!
Bainan Wu
Bainan Wu
July 26, 2017
Excellent tax service. I would highly recommend to everyone. Greg and his staff are all very professional.
David Serna
David Serna
March 29, 2017
Very happy with this firm, if you are a San Diego local in need for a solid CPA you will be happy with these guys