As an alternative to a full audit of an entity’s financial statements Brysani offers financial statement reviews and compilations.
A compilation is useful to small, privately held entities that need help in preparing their financial statements.
A review, on the other hand, may be adequate for entities that must report their financial positions to third parties, such as creditors or regulatory agencies. The objective of a compilation of financial statements 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. The objective of a review of financial statements is to obtain limited assurance that no material modifications should be made to the financial statements in order for the statements to be in conformity with GAAP (Generally Accepted Accounting Principles) or other applicable financial reporting framework.