Audits, Reviews & Compilations

  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