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| Financial Statement Preparation | Compliation | Review | Audit | |
| Assurance Provided | None | None | Limited negative assurance | High level of reasonable assurance |
| Intended Audience | Business owners to manage the business | Lenders and other outside parties not requiring assurance | Lenders and other outside parties desiring a basic level of assurance | Creditors, investors, and other outside parties desiring high level of comfort |
| Appropriate For | Potentially some lender’s documentation for small loans | Initial or lower amounts of financing with significant collateral in place | Growing businesses seeking larger levels of financing | Growing businesses seeking high levels of financing or selling a business |
| Report Issued | None | Yes | Yes | Yes |
| Frequency (Generally) | Monthly, quarterly, or annually | Monthly, quarterly, or annually | Monthly, quarterly, or annually | Monthly, quarterly, or annually |
