A compilation is a basic, non-assured summary of a company’s financial statements performed and written by a CPA.

In a compilation, a CPA reviews and inquires about a business's financial statements, but does compare them to any of their expectations. Unlike a financial review or audit, there are no tests performed, and the auditor does not examine any internal controls.

As a result, this method provides no assurance, and the CPA cannot provide any opinion.

Therefore, a compilation should only be used in very simple situations, such as presenting a company’s financial information on a surface level or getting a second set of eyes to review the financial statements.

The CPA performing a compilation is not required to be independent of the business.

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