In a compilation engagement, the firm compiles unaudited financial information into financial
statements, schedules or reports based on the information provided by the client.
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This engagement is best suited to situations where the client understands that the
statements generated by the firm do not offer any assurance on the reliability of the
compiled information. To warn readers of this lack of assurance, the firm attaches a “Notice
To Reader” that says that no review was performed on the information and that the
information may not be appropriate for use by the reader.
The reports generated in a compilation engagement are for the exclusive use of the company’s
management or for income tax purposes.