Review and Compilation
Services - Review and Compilation
Every business needs timely and reliable financial information to be successful. Depending on your internal and external reporting needs, Mira + Kolena offers alternative assurance services to help you comply with your periodic reporting requirements, inform your shareholders/members and provide you with the information you need to operate your business.
For companies that want a “second-look” at the numbers, but don’t need the level of scrutiny of an audit, a review may be a cost-effective alternative. Similar to an audit, a review provides limited assurance on the reliability of financial statements that are prepared in accordance with generally accepted principles or another basis of accounting. It is recommended for companies whose owners are comfortable with the effectiveness of internal controls and the quality of internally prepared financial statements.
For companies that only require a basic financial statement report with minimal assurance as to the accuracy of the information provided, a compilation may be another alternative. Although a compilation does not require that we verify the accuracy of the financial information, we work closely with your financial personnel to present the financial statements in a fair presentation. In addition to the normal annual assurance reporting, these services can be performed on a monthly or quarterly basis.
We also provide you with a management letter if any operational efficiencies or improvements in internal controls are identified during the course of our work. We look at how the transactions are recorded, current accounting principles and current and past trends which may identify items for further analysis. Our experienced professionals can help you meet your current assurance needs.
To learn more, please contact Tom Kolena at 419.474.5020 or tkolena@mirakolena.com.