Your business stands on the integrity of your accountancy and the quality assessment carried out using different methods. Compilation of financial documents for taxes and investments is one method to ensure you’re not amiss when it comes to following proper procedures to minimize risks.

Eliminate errors

At Signature Accounting and Advisory Services (SAAS), we aim to eliminate those errors in your filings and numbers that could be a catastrophe if left unmanaged for too long. Much like a doctor, our skilled AA accountants have a sharp eye for spotting errors having worked in the industry for over a decade.

A compilation of your financial records not only help in highlighting your business’s financial strengths and weakness but also helps you feel more confident about your overall business performance. Although every business requires a detailed audit to have a better, more reliable positioning in records, a compilation is an attestation of the documents being in order. When you’re filing your taxes, a compilation simply puts forward your information as best as possible.

What is accounting compilation?

At SAAS, we prepare a variety of compilation engagements to help ensure your reports are appropriately filed. A compilation serves as a second opinion after you’re done filing your records, and as a result you have peace of mind about your financial reports. Our clients rely on us to provide accurate filings, and as a more economical option compared to a full-audit, a compilation is the best scenario in a preliminary check.

While an audit is perfect for ensuring that your data is fact-checked and verified, a compilation is a validation of all the records being in order. We ensure quality compilation by interacting and getting to know your general operations to ensure there are no lapses anywhere. When you hand us your responsibilities, our team ensures there are no mistakes and get the critical attention your reports need.

SAAS accountants have gained the knowledge and experience of reviewing various different types of filings over the years assuring great results with perfection in quality assessment. So, if rounding up everything in order is what your business needs, then our team can help you make this part of business your strength while we take care of your businesses’ compilation needs with high-quality solutions. At SAAS, we offer competitive pricing and quality audits and reviews for your filings. A review is mandatory for your tax filings and is perfect for businesses that don’t need the precision of an audit.

Accounting compilation vs audit

Many people confuse Accounting Compilation with Audit. Well, these are actually very different from each other.

An Audit is your ultimate tool in error-proofing your documents and offer highest level of assurance and accuracy of your financial reports provided by an accountant. A thorough inspection of your internal systems, physical verification, and fact-checking of any data helps provide an accurate audit. While a Compilation process is basically performed to compile all of company’s financial data and formulate it in a structured form of financial statements. Unlike, audits, a compilation process doesn’t provide assurance or an opinion of an accountant.

Features of Accounting Compilation

There are many features of compilation that may benefit businesses of all sizes. Some of these benefits are:

  • Formulates financial statements which can be useful to a business in many ways.
  • Cost-effective compared to an audit or review.
  • Generally acceptable to local banks
  • Accountant doesn’t provide assurance or an opinion on the accuracy of the financial statements.

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