Financial Statement

Preparation & Reviews

COMPILED FINANCIAL STATEMENT

A Compiled Financial Statement is based on information provided by clients and is primarily used for internal use. A Compiled Financial Statement differs from reviewed or audited financial statements, as no assurance is expressed.

Wolfe, McDuff, & Oppie specializes in constructing compiled financial statements which suit specific needs of our clients.

We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company's profitability and efficiency. We can provide you with simplified or more complex statements depending on the needs of your company.

REVIEWED FINANCIAL STATEMENT

A Reviewed Financial Statement involves procedures lesser in scope than an audit, but is more than a compiled financial statement.  A Reviewed Financial Statement requires us to become aware of your company's personnel and perform analytical procedures to gain limited assurance as to the validity of the financial statements. The statements will be presented in accordance with generally accepted accounting principles (GAAP) or any other comprehensive basis of accounting. They will also provide full footnote disclosures and any other additional information required by GAAP.

A client may need a Reviewed Financial Statement instead of a Compiled Financial Statement for financial institutions and bonding companies who may want stronger assurance concerning the financial statements.