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.
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.
Our dedicated team is ready to assist you on your path to financial success.
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A financial statement audit involves an independent examination of a company's financial records to ensure accuracy and compliance with accounting standards.
Audits are essential for compliance with legal and regulatory requirements, investor and stakeholder confidence, and accurate financial reporting.
It includes a thorough review of financial statements, assessment of internal controls, and ensuring adherence to accounting principles.
Preparation involves organizing financial records, understanding the audit process, and collaborating with the audit team for efficient execution.
The duration varies based on company size and complexity but generally includes planning, fieldwork, and wrap-up phases.
Yes, we welcome inquiries and consultations. You can request a consultation through our Contact Us page, and our team will be in touch to schedule a convenient time.
A financial statement audit involves an independent examination of a company's financial records to ensure accuracy and compliance with accounting standards.
Audits are essential for compliance with legal and regulatory requirements, investor and stakeholder confidence, and accurate financial reporting.
It includes a thorough review of financial statements, assessment of internal controls, and ensuring adherence to accounting principles.
Preparation involves organizing financial records, understanding the audit process, and collaborating with the audit team for efficient execution.
The duration varies based on company size and complexity but generally includes planning, fieldwork, and wrap-up phases.
Yes, we welcome inquiries and consultations. You can request a consultation through our Contact Us page, and our team will be in touch to schedule a convenient time.
Compiled financial statements are financial reports prepared by a company's management, often with the assistance of a certified public accountant (CPA). These statements are based on information provided by the company's management and are not audited or reviewed by the CPA for accuracy or compliance with accounting standards.
Financial statements can be compiled by the company's internal accounting staff or by an external accountant or CPA. However, it is common for businesses to engage a CPA to ensure the statements are accurately compiled in accordance with standard accounting principles.
An audited financial statement is a financial report that has been examined and verified by an independent auditor. The audit process involves evaluating the accuracy and completeness of the financial records and ensuring they comply with generally accepted accounting principles (GAAP) or other relevant accounting standards.
Yes, audited financial statements are generally confidential. They are typically shared only with the company's management, board of directors, shareholders, and certain regulatory bodies. However, publicly traded companies are required to make their audited financial statements available to the public.
Private companies are not always required to have audited financial statements. The requirement depends on various factors, such as the company's size, industry, and regulatory environment. However, lenders, investors, or other stakeholders may request audited financial statements for transparency and assurance.
Whether you need audited financial statements depends on your specific circumstances. You may need them if you are seeking external financing, have significant stakeholders requiring assurance, or are subject to regulatory requirements. Consult with a CPA or financial advisor to determine your specific needs.
Yes, the audit committee typically reviews and approves the financial statements before they are presented to the board of directors. The committee ensures that the statements are accurate and comply with relevant accounting standards and regulations.
Yes, the U.S. Securities and Exchange Commission (SEC) requires publicly traded companies to submit audited financial statements as part of their periodic filings, such as annual reports (Form 10-K) and quarterly reports (Form 10-Q).
The duration of a financial statement audit varies depending on the size and complexity of the company. Typically, it can take several weeks to a few months. Proper preparation and cooperation with the auditors can help expedite the process.
For publicly traded companies, financial statements are audited annually. Private companies may choose to have their financial statements audited annually or less frequently, depending on their needs and the requirements of stakeholders such as lenders or investors.