Reviews & Compilations
Reviews and Compilations Services
In addition to audits, GRF CPAs & Advisors offers review and compilation services for organizations that require a lower level of assurance. While audits provide the highest assurance — evaluating internal controls and assessing fraud risk — reviews and compilations are less intensive, more cost-effective alternatives. These services do not involve testing transactions or sampling and are often accepted by funders, creditors, and for charitable registration in place of a full audit.
Consider Compiled Financial Statements this Tax Season
Even though tax season may not be your favorite time of year, it is an opportunity to consider a compiled income tax financial statement that can benefit you and your business for years to come.
Reviews
- Provide limited assurance on financial statements without issuing an opinion
- Rely upon inquiry and analysis to identify unusual items or trends
- Detailed audit testing procedures are not applied
Compilations
- Provide no assurance
- Financial data from the organization is presented in the form of a financial statement
What Our Clients Say
The GRF team is very knowledgeable and provided invaluable guidance on the implementation of the auditing standard update on leases for this non-profit.