SAAVEDRA CPA | Compilation Services

Our objective in a compilation engagement is to apply accounting and financial reporting expertise to assist management in the presentation of financial statements and report in accordance with section AR-C 80, Compilation Engagements.

We comply with section AR-C 60, General Principles for Engagements Performed in Accordance with Statements on Standards for Accounting and Review Services in compilation engagements.

Since it is not an assurance engagement, and therefore we do not issue an opinion, we do not undertake to obtain or provide any assurance that there are no material changes to the financial statements for them to be in accordance with the applicable financial reporting framework.

We read the financial statements based on our understanding of the applicable financial reporting framework and the significant accounting policies to consider whether such financial statements appear to be appropriate and free from material errors.

If we become aware that the records or other information provided by management are unsatisfactory, we may request additional or corrected information. In addition, if we become aware that the financial statements are misleading or require revisions, we may propose revisions to management.

A compilation for an entity includes a balance sheet, income statement, and a statement of cash flows. A separate statement of changes in retained earnings or net assets is optional. Compiled personal financial statements include a statement of financial condition, and statement of net worth, if required.

All financial statements include notes to the financial statements per generally accepted accounting principles and the accountant’s compilation report.

To begin compilation procedures, we ask for a balance sheet, income statement, a list of significant accounting policies and prior year financial statements, if applicable.