Review engagement services can be a cost-effective alternative to a full financial statement audit for an organization in that they provide limited assurance regarding the organization’s financial statements in accordance with the organization’s financial reporting framework. The financial statement deliverable will the same as an audit, other than our opinion, and can provide the stakeholders of the company with the financial data necessary to make informed business decisions.
A compilation of a financial statement is not designed to provide assurance on the underlying financial statements. However, compiled financial statements present an economical way to report an organization’s financial performance and financial position at a high level. Withum’s compilation process begins by meeting with you to discuss your organization and develop a timetable to perform the required compilation procedures. A list of information and schedules that we will need from you will be supplied at that time. At the conclusion of our compilation procedures, our team will review a draft of the financial statements with you and obtain your approval for the timely issuance of the financial statements.