Compilations and Reviews
Financial Statement Compilations
At AMT Magna Accounting, we provide compilation services for businesses that need reliable financial statements without an audit-level review. Whether for internal use, bank loan applications, or investor reporting, we compile your financial data into clear, GAAP-compliant statements to support informed decision-making.
Financial Statement Reviews
Our financial statement review services provide limited assurance on your company’s financials, making them more credible for stakeholders without the need for a full audit. This includes analytical procedures and inquiries to identify inconsistencies or issues that require attention.
Need Reliable Financial Statements? We Can Help!
Whether you need compilations for internal use or reviews for added credibility, AMT Magna Accounting ensures your financial reports meet professional standards.
Our 4-Step Process for Compilations & Reviews
Initial Financial Review & Data Collection
We assess your business’s financial records, transactions, and reporting needs to determine the level of service required.
Financial Statement Compilation or Review
For compilations, we organize and format financial data into professional reports. For reviews, we perform analytical procedures and inquiries to provide limited assurance.
Report Finalization & Compliance Check
We ensure all statements comply with GAAP or industry standards, making them suitable for lenders, investors, or internal decision-making.
Ongoing Financial Guidance & Support
We provide continuous support for financial reporting needs, ensuring businesses stay compliant and maintain accurate financial records year-round.
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FAQ
Have Questions? Find Out Answers Here!
A compilation is the preparation of financial statements based on the information provided by your business, without any formal verification or assurance. A review provides limited assurance, where we analyze your financials and perform inquiries to identify inconsistencies or errors, making the statements more credible for lenders or investors.
If your business is seeking financing, dealing with investors, or required to provide verified financials for compliance purposes, a reviewed financial statement can help provide added credibility without the expense of a full audit.
Compilations are a great option when you need professional, well-organized financial statements but don’t require assurance. Banks, investors, or internal stakeholders often request compilations for budgeting, loan applications, or strategic planning.
The timeline depends on the complexity of your financial records. Compilations can often be completed within a few weeks, while reviews typically take longer due to the analytical procedures involved. We work efficiently to meet your deadlines.
If you need basic financial reporting, a compilation may be sufficient. If you need some level of assurance but don’t require an audit, a review is the best choice. Audits are only necessary for businesses with regulatory or investor-driven requirements. Not sure which is best? We’ll help you determine the right option based on your needs.