Depending on what your company needs our assurance services start with just compilation cover page. This cover page is designed to accompany your financial documents showing lenders or investors that you are associated with a trusted CPA.
Whenever a business is in need of a loan from a bank, that bank will typically require assurances that the financial statements provided are accurate and complete. They want to know that the company with which they are considering loaning money is profitable, trustworthy, and professional. A compilation cover page when associated with financial statements shows these lending institutions that your company is connected with a CPA firm. This does not mean that the CPA firm provides any type of assurance to the financial statements being provided, merely that the client has association with the accountant providing the compilation.
Compilation documents provide enough assurance to many local banks and lending institutions. Larger national banks usually require a more thorough assurance. This may be provided via a review or audit as the lending institution requires.
What financial documents will a business be required to provide to complete a compilation cover page?
Quite often, operating agreements, loan agreements and leases pertaining to your business will be required to complete the compilation assurance. These documents along with your financial statements provided by your bookkeeper will create the core of the compilation assurance.
North Star Tax and Accounting provides compilation cover pages for businesses. If your company is in need of the additional assurance provided by a cover page with your financials, contact us today for a free consultation and estimate on this service.
While compilation cover pages can work for many applications, it sometimes does not provide enough assurance for some lenders that your accounting records are accurate. To provide an added level of assurance accounting reviews and audits are essential.