Compiled Financial Statements | Preparation & SSARS Compliance

Overview

A financial statement compilation is a cost-effective service where a CPA prepares your financial statements based on information you provide, without performing audit or review procedures. Our compilation services transform your bookkeeping data into professionally formatted financial statements that meet SSARS 21 standards - perfect for management use, lender requirements, or stakeholder reporting when assurance isn't required.

Unlike audits or reviews, compilations provide no assurance about the accuracy of your financial statements. However, they offer a professional presentation of your financial data at a fraction of the cost and time, making them ideal for businesses that maintain reliable internal records and need formal financial statements for various purposes.

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Who Needs Compiled Financial Statements?

Use Case	Common Scenarios	Key Benefits
Bank & Lender Requirements	• Loan applications • Credit line renewals • SBA lending	Meets most lender requirements at lower cost
Investor Relations	• Monthly investor updates • Board meetings • Partnership reports	Professional presentation without audit expense
Internal Management	• Strategic planning • Performance tracking • Budget analysis	Organized financials for better decision-making
Third-Party Requirements	• Vendor applications • Lease agreements • Insurance submissions	Quick turnaround for time-sensitive needs

What's Included in Our Compilation Service?

Deliverable	Description	Format
Financial Statements	• Balance Sheet • Income Statement • Cash Flow Statement • Statement of Equity/Retained Earnings	PDF & Excel
Compilation Report	Accountant's report stating no assurance provided and management's responsibility	PDF
Notes to Statements	Essential disclosures about accounting methods and significant policies	Integrated
Management Letter	Optional observations and recommendations for improvement	PDF

Compilation Requirements and Process

What You Provide	Our Process	Timeline
• Trial balance or general ledger • Bank reconciliations • Supporting schedules • Prior year statements • Significant transaction details	1. Initial data review 2. Clarification questions 3. Statement preparation 4. Quality review 5. Final delivery	Simple: 3-5 days Standard: 5-7 days Complex: 7-10 days

Compilation vs. Financial Review vs. Financial Audit

Service Level	Assurance Provided	Procedures	Cost Range*	Typical Timeline
Compilation	No assurance	• Format statements • Read for obvious errors • No verification	$	3-10 days
Review	Limited assurance	• Analytical procedures • Management inquiries • Comparison analysis	$$	2-3 weeks
Audit	Reasonable assurance	• Test transactions • Verify balances • Assess controls	$$$	4-8 weeks

*Cost indicators: $ = Most affordable, $$$ = Most expensive

Why Choose Dimov Audit for Compilation Services?

SSARS Compliance Expertise: Our CPAs ensure your compiled statements meet all professional standards while clearly communicating the no-assurance nature of the engagement.
Industry Specialization: With deep experience in manufacturing, technology, real estate, and professional services, we understand your specific reporting needs.
Rapid Turnaround: Our streamlined compilation process delivers statements in days, not weeks, helping you meet tight deadlines.
Transparent Pricing: Fixed-fee engagements with no surprises, typically 70% less than audit costs for similar statement preparation.
Year-Round Support: Beyond compilation, we're available to answer questions and provide guidance as your business needs evolve.

Get Started with Compiled Financial Statements

Whether you need statements for lenders, investors, or internal use, Dimov Audit provides professional compilation services that meet your needs efficiently and affordably. Contact us today for a consultation and transparent pricing based on your specific requirements.

Connect with Dimov Audit

Our dedicated team is ready to assist you on your path to financial success.

hello@dimovaudit.com 855-622-9009

211 E 43rd St Suite 7-100
New York, NY 10017
United States

401 NW 31ST AVE
MIAMI FL 33125-4228
United States

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