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Audit. Review. Compilation. What's the Difference?
By James Ulvog
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About this ebook
Your CPA firm could provide one of several levels of services when you hired them to look at your financial statements and issue a report. They could perform an audit, or a review, or a compilation.
There won’t be big visual differences in the report they issue but there will be huge differences in cost. The reason you get the CPA’s involvement in the first place is to communicate your financial information to outside parties.
There is a huge difference in the comfort level those outsiders get from reading the CPA’s report.
So of an audit, review, and compilation, which should you get?
It depends.
This book will help you understand the differences between these three very different services so you can understand the conversation with your CPA and can better determine what services you need.
LanguageEnglish
PublisherJames Ulvog
Release dateJan 17, 2014
ISBN9780977436132
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Audit. Review. Compilation. What's the Difference? - James Ulvog
Audit. Review. Compilation. What’s the difference?
James L. Ulvog, CPA
Published by Riverstone Finance Press (riverstonefinancepress.com)
Alta Loma, California
Smashwords Edition
Copyright 2014 James L. Ulvog
All Rights Reserved.
978-0-9774361-3-2
The text in this book is a compilation of posts previously published in the author’s weblog, Nonprofit Update (nonprofitupdate.info). The posts have been edited from when they originally appeared.
This book is distributed with the understanding that the author and publisher are not rendering accounting or other professional services in this publication. If accounting advice or expert assistance is required, the services of a competent professional should be retained.
Smashwords Edition, License Notes
This eBook is licensed for your personal enjoyment only. This eBook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of this author.
Contents
‘Preparing’ financial statements - a new level of service
Football illustration
How you would check out a used car if you audited, reviewed, or compiled its condition?
A detailed explanation
Filling up a bucket with water
Levels of assurance
About the author
Other books by this author
There are three main levels of services a CPA can provide your business or nonprofit organization. These are an audit, a review, and a compilation.
How are those different? This short book will help you understand the differences between those services.
This is a compilation of posts previously published on my blog, Nonprofit Update (nonprofitupdate.info). They have
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