COMPILATION and REVIEW SERVICES OLYMPIA WA
Compilation and review services Olympia WA are less comprehensive, and less costly than audits.
In a review, a “negative assurance” is provided, while no level of assurance is provided in a compilation. Reviewed financials statements include all content that would be provided in an audited financial statement. Compiled financials statements can exclude footnotes and the statement of cash flows. Both levels of service can be performed for financial statements using an accounting framework other than generally accepted accounting principles, including tax or cash basis.
Though the level of assurance for these services is less than an audit, reviewed or compiled financial statements are often sufficient for third parties utilizing financial statements.
They can be an indispensable tool for privately-held companies or nonprofit organizations. They can provide management, and other persons performing oversight, with information for monitoring financial results, budgeting and tax planning, business valuations, or other general financial analysis purposes. McSwain and Company, P.S., prides itself on the quality and timeliness of its compilation and review services, whether performed on a monthly, quarterly or annual basis.
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