What is the difference between an audit, review, and compilation?

The level of assurance your organization needs depends on your goals, reporting requirements, and the expectations of your stakeholders. An audit provides the highest level of assurance through a detailed examination of financial statements and internal controls. A review provides limited assurance through analytical procedures and inquiries, while a compilation involves preparing financial statements based on information provided by management. Our team can help you understand which level of service is appropriate for your organization and its specific needs.