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Reviews and Compilations

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Financial Statement Reviews
 
A review performed under Statements of Standards of Accounting and Review Services (SSARS) includes understanding the business and documenting internal controls, performing analytics and other non-audit procedures, inquiries of management and other governing personnel, and reviewing financial statements for accuracy and GAAP-compliance. A review is generally requested by lending institutions and governing members of a company or organization when an audit-level of assurance is not required.
 
Review fees are generally $7,500 to $10,000.
 
We also provide quarterly reviews, also known as interim reviews, that involves reviewing transactions throughout a quarter to determine accuracy and proper classification. If we determine that a transaction, or transactions, may need to be reclassified, we will consult with management. A quarterly review will also uncover potential issues with recording revenues and expenses, posting payroll and sales tax payments, issues with reconciling bank and/or credit card accounts, etc.
 
Quarterly reviews generally range between $1,200 to $1,500 per quarter.
 
Financial Statement Compilations
 
A compiliation is assembling and reporting financial information provided by management in a series of statements including balance sheet(s), profit and loss statement(s), statement(s) of owners' equity, and statement(s) of cash flows. Footnotes may or may not be required, depending on the use of the financial statements by management. A compilation provides no assurance that the financial statements require material modifications that should be made to the financial statements in order for them to be in accordance with the applicable financial reporting framework.
 
Financial statement compilations range from $2,500 to $5,000.
 
We look forward to serving you!
 
Duncan & Company, LLC
(303) 386-5200 | Email us at: info@duncancocpa.com
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