Compiled Financial Statements
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855-622-9009Overview
A financial statement compilation is a cost-effective service where a CPA prepares your financial statements based on information you provide, without performing audit or review procedures. Our compilation services transform your bookkeeping data into professionally formatted financial statements that meet SSARS 21 standards - perfect for management use, lender requirements, or stakeholder reporting when assurance isn't required.
Unlike audits or reviews, compilations provide no assurance about the accuracy of your financial statements. However, they offer a professional presentation of your financial data at a fraction of the cost and time, making them ideal for businesses that maintain reliable internal records and need formal financial statements for various purposes.
Who Needs Compiled Financial Statements?
| Use Case | Common Scenarios | Key Benefits |
|---|---|---|
| Bank & Lender Requirements |
| Meets most lender requirements at lower cost |
| Investor Relations |
| Professional presentation without audit expense |
| Internal Management |
| Professional format for planning and analysis |
What's Included in Our Compilation Service
- Financial Statement Preparation: We organize your bookkeeping data and prepare complete financial statements (balance sheet, income statement, cash flow statement).
- Professional Formatting: All statements are formatted to meet SSARS 21 standards and presented in a professional manner suitable for external use.
- Consistency Review: We review the data for mathematical accuracy and consistency across statements.
- Documentation: We provide a transmittal letter explaining the nature and limitations of the compilation engagement.
Compilation vs. Review vs. Audit
Understanding the differences helps you choose the right service:
- Compilation: Lowest cost, no assurance, professional formatting only. Best for internal use or when assurance isn't needed.
- Review: Mid-range cost, limited assurance through analytical procedures and inquiries. Good for lenders and stakeholders.
- Audit: Highest cost, highest assurance level through comprehensive testing. Required for many organizations and substantial transactions.
Why Choose Dimov Audit for Compilation Services
- Speed and Efficiency: We prepare compilations quickly without sacrificing accuracy or professionalism.
- Industry Experience: Our CPAs work across diverse industries and understand industry-specific reporting needs.
- Accuracy: We carefully review all data to ensure mathematical accuracy and consistency.
- Professional Standards: All compilations comply with SSARS 21 standards and best practices.
- Flexible Timing: We can handle monthly, quarterly, or annual compilations based on your needs.
- Cost-Effective: Save money compared to audits or reviews while still getting professional financial statements.
Getting Started with Compilation Services
The compilation process is straightforward:
- Provide Your Data: Share your bookkeeping records or general ledger information.
- Clarify Requirements: Discuss any specific formatting or reporting needs you have.
- We Prepare Statements: Our team compiles your financial statements to professional standards.
- Review and Deliver: We review the statements and deliver them with a transmittal letter.
- Support and Questions: We're available to explain the statements and answer any questions.
Contact
Connect with Dimov Audit
Our dedicated team is ready to assist you on your path to financial success.
211 E 43rd St Suite 628
New York, NY 10017
United States
What Our Clients Say
"Dimov CPA gave us the clean audit we needed to meet compliance and reassure our stakeholders. Their team was thorough, professional, and let us stay focused on our mission."
Executive Team
Rise and Shine Child Care Centers
"Dimov Audit’s work provided us with the confidence and clarity we needed for our grant-funded programs. Their audit process was thorough, efficient, and instrumental in helping us maintain full compliance with nonprofit reporting standards."
Thomas Murray
Chief Community Officer and Core Faculty
Frequently Asked Questions
Are your financials audit-ready?
Are Your Financials Audit-Ready?
At Dimov Audit, we pride ourselves in quick communication, accurate work, and seamless delivery.