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Here’s how Unison Globus can help you preparing Compilation Engagement Report:
Perfectly designed SOPs to deliver finest quality of Compilation Engagement (Mapping, Sign offs, Raising issues, Document annotation etc.)
Preparation of Engagement letter
Review financial statements, resolve queries and map numbers into Caseware
Comply with CSRS 4200 requirements (Engagement acceptance/continuance, Knowledge of entity, Completion checklist)
Preparation of Compilation Engagement Report as per the new CSRS 4200 requirements
- Provide a negative or limited assurance
- Auditors and professional accountants do not provide advice on financial statements or subject matters
- In most cases, the review engagement report will state, “nothing has come to our attention…”
- The risk is reduced to a moderate level
- Auditors or professional accountants only need to review subject matters
- Positive assurance provides a higher level of assurance than negative assurance.
- Auditors provide their opinion of financial statements.
- Usually states in the review engagement report as “In our opinion…”
- The risk is reduced to an acceptably low-level
- Auditors must conduct subject-matter examinations by gathering sufficient acceptable evidence to form an opinion.
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