Financial Statement Review and Compilation

If your company has assurance needs that don't require an audit, The Bonadio Group (Bonadio) can provide reviews and compilations. These services are less in scope than an audit, but provide financial statements representative of management. Typically, we provide these services to smaller, closely-held businesses where the assurance provided to third parties, as a result of the audit process, is not required.

Bonadio’s compilation service entails the preparation of financial statements from information provided by management. A compilation is useful when limited in-house capabilities for preparing financial statements exist, but it does not provide any level of assurance that the financial position and results of operations are fairly presented.

We compile your financial data into a format that is accepted by most professionals who read the documents. Bonadio’s review service entails inquiry and application of analytical procedures to financial statements provided by management to determine if there are any material changes that need to be made to the financial statements for them to be in conformity with generally accepted accounting principles.

While a review is less comprehensive than an audit, it does involve a significant degree of knowledge and understanding of your business and industry. Bonadio will analyze and evaluate your financial situation, and we will put the knowledge gained during the review to good use in advising you in the future.

Bonadio has developed formal policies to cost effectively perform a review or compilation reporting engagement and we can even help you evaluate the best service to fit your reporting needs.