Preparing for an Audit Made Easier with Financial Compilations and Reviews
By: Steven Lyons, CPA | Assurance Senior Manager, Audit and Assurance In addition to providing a more cost-effective alternative to a financial statement audit, compilations and reviews offer businesses and nonprofit organizations a number of important advantages. Perhaps most important, compilations and reviews help your organization prepare for a future financial audit because they include…
Alternatives to the Financial Statement Audit May Offer a Better Solution
The annual audit of financial statements is required for many organizations, often becoming a process their accounting staff has come to dread. However, a review or compilation of their annual financial statements is adequate and is an attractive and less burdensome alternative to an audit for some. Understanding the difference can save your organization time…