Audit & Assurance
Compilations & Reviews
Credible financial statements for every stakeholder. We prepare compilations and conduct reviews scaled to your specific assurance needs.
The Right Level of Assurance for Your Situation
Not every situation requires a full audit. Compilations and reviews provide meaningful levels of assurance that satisfy many lender, partner, and internal requirements — at a scope and cost appropriate to the engagement. C&M LLP provides both services with the same attention to quality and professional standards we bring to every engagement.
A compilation involves presenting financial information in the form of financial statements without providing any assurance on the information. It is used when management needs well-organized, properly formatted financial statements for internal use, a bank relationship, or a transaction — and the engagement is specifically scoped as such. A review provides limited assurance — we perform inquiry and analytical procedures and issue a report stating that we are not aware of any material modifications needed.
We work with you to determine which level of service fits your stakeholder requirements, and we communicate that scope clearly upfront. There are no surprises about what the report will say or who it is intended for.
What You Receive
Compilation Report
Professionally formatted financial statements presented per applicable financial reporting framework, accompanied by a clearly scoped accountant's compilation report that defines the nature and limitations of the engagement.
Review Report
A limited assurance report based on inquiry and analytical procedures, stating that we are not aware of any material modifications that should be made to the financial statements for them to be in conformity with the applicable framework.
Engagement Letter & Scope Documentation
A clear written scope of work defining the engagement type, what is and is not covered, and the intended users of the report — protecting all parties and ensuring appropriate reliance.
Who Uses Compilations & Reviews?
Compilations and reviews serve private companies, closely-held businesses, and partnerships that need credible financial statements for stakeholders but do not face the full audit requirements of a public company or heavily regulated entity. Banks and lenders often accept reviewed financials for smaller credit facilities. Buyers and sellers in M&A transactions sometimes use compilations as a starting point. Internal management may use compilations to maintain consistent, professionally organized financial records.
Typical Clients
- Private companies with bank or lender requirements
- Closely-held businesses and partnerships
- Companies in early-stage M&A processes
- Management requiring organized financial records