Compiled Financial Statements

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.

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	Initial data review Clarification questions Statement preparation Quality review Final delivery	Simple: 3-5 days Standard: 5-7 days Complex: 7-10 days

What You Provide

Our Process

Timeline

Trial balance or general ledger
Bank reconciliations
Supporting schedules
Prior year statements
Significant transaction details

Initial data review
Clarification questions
Statement preparation
Quality review
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.

Overview