The preparation of reliable and timely financial information can be essential to the compliance requirements and success of your business or organization. Numeris CPA’s staff will work with you to understand who is using your financial information and will help analyze stakeholder needs to ensure they are receiving the appropriate information.
A compilation engagement is usually carried out for companies or organizations that have little financing requirements and have no obligations towards third parties.
The objective of a compilation engagement is very different from that of a review or audit engagement. A compilation engagement provides no level of assurance regarding the financial information and is not an assurance engagement. This type of engagement seeks to help the client to compile their financial information from the information they provide to the accountant.
Note, for year ends ending after December 14, 2021 a new standard (CSRS 4200) “Compilation engagement” replaced the “Notice to Reader”. Compilation engagements require a more hands on approach, which will result in additional planning and collaboration with your organization.