The objective is to obtain “reasonable assurance” about whether the company’s financial statements as a whole provide a fair view of the company’s financial position.

An audit is the highest level of assurance a CPA can provide.

A financial statement review aims to provide the user with assurance that the firm is not aware of any material modifications required in the financial statements. Essentially, it asks, “Do the numbers make sense?” This is a step down from the level of assurance that an audit provides.

The objective of a compilation is to assist management in presenting financial information in the form of financial statements. Essentially, the accountant takes company-provided data and creates financial reports in the appropriate format.

BNS PARTNERS LLC helps clients to determine which level of assurance is right for their organizations. Once you select the appropriate level of assurance that balances the costs and the benefits, we can provide the right solution and services to you!