Are you looking for a sample compilation report? Here it is.
The compilation report is shortened to differentiate it from audit and review (assurance) reports. The compilation report will not include paragraph headers; ARSC omitted the headers in order to differentiate compilation reports from assurance service reports (e.g., audits, reviews) that do include headers. Though not required, you can add a title such as “Accountant’s Compilation Report.”
Management is responsible for the accompanying financial statements of XYZ Company, which comprise the balance sheets as of December 31, 20X2 and 20X1 and the related statements of income, changes in stockholder’s equity, and cash flows for the years then ended, and the related notes to the financial statements in accordance with accounting principles generally accepted in the United States of America. I (We) have performed compilation engagements in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. I (we) did not audit or review the financial statements nor was (were) I (we) required to perform any procedures to verify the accuracy or completeness of the information provided by management. I (we) do not express an opinion, a conclusion, nor provide any assurance on these financial statements.
[Signature of accounting firm or accountant, as appropriate]
[Accountant’s city and state]
Accountants add additional paragraphs to the compilation report when the following exists:
SSARS 23 amended SSARS 21 and has changed the language regarding supplementary information. Click here to see the new supplementary information language.
For information about my SSARS 21 book, click here.
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Charles Hall is a practicing CPA and Certified Fraud Examiner. For the last thirty years, he has primarily audited governments, nonprofits, and small businesses. He is the author of The Little Book of Local Government Fraud Prevention and Preparation of Financial Statements & Compilation Engagements. He frequently speaks at continuing education events. Charles is the quality control partner for McNair, McLemore, Middlebrooks & Co. where he provides daily audit and accounting assistance to over 65 CPAs. In addition, he consults with other CPA firms, assisting them with auditing and accounting issues.
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