Compilation

In a compilation, a CPA obtains organizational information and places it in the form of financial statements, without expressing a professional opinion regarding the nature or accuracy of what is compiled. In other words, a compilation provides no assurance value.

Compilations are useful because they put an organization’s financial data into a format that is consistent with widely accepted accounting standards. These reports can be prepared on an interim basis (e.g., monthly, quarterly, annually, etc.).