Reviews & Compilations

For organizations not requiring audited financial statements, Anstiss & Co. also performs reviews and compilations.

Because we are members of the American Institute of Certified Public Accountants, you can rest assured that all work performed as a part of your review or compilation will be in accordance with the Statements on Standards for Accounting and Review Services issued by the AICPA. We have a long and successful history of providing quality business consulting services, which is a source of confidence to all of our clients.

At Anstiss & Co., we take the time to learn your organization, and also the people who are a part of its daily operations. You will appreciate the personal touch in our approach to working with our clients, and will also benefit from recommendations we may make based on what we find while performing reviews and compilations.

Reviews

A review is substantially less in scope than an audit, and requires us to perform procedures to obtain limited assurance that there are no material modifications that should be made to the financial statements.  We obtain this level of assurance primarily by applying analytical procedures to management’s financial data and making inquiries of Organization management.

A review is best suited for family and closely held businesses, not-for-profit public charities operating in Massachusetts with less than $500,000 in annual revenue, and other organizations that require a lower level of assurance for financial statement reporting.

Although a review does not provide the high level of assurance that a financial statement audit provides, our accounting firm performs a significant amount of analysis, which often results in recommendations which provide real value to your organization.

Compilations

The objective of a compilation is to assist management in presenting financial information in the form of financial statements without undertaking to obtain or provide any assurance that there are no material modifications that should be made to the financial statements.

In addition, compilation reports do not express an opinion or provide any assurance about whether the financial statements are in accordance with accounting principles generally accepted in the United States of America.

In order to perform a quality compilation, Anstiss & Co. will gain an understanding of the accounting practices and principles of your industry and the nature of your business. We take a personal and team-focused approach to the compilations we provide, setting us apart from other accounting firms.

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