Compilations, Reviews and Audits

SetApart has extensive experience helping 1,200+ clients with Compilations, Reviews and Audits. Whether it be for Crowdfunding needs, accreditation needs or compliance with bank covenants, SetApart has got you covered.

Our carefully curated process and streamlined workflows is what sets us apart from the competition. Our keen attention to detail and quality standards are what help us achieve the highest quality rating for our Peer-review.

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Compilations

Compilations are useful for smaller businesses that need financial statements for internal use or for external stakeholders who do not require the level of assurance provided by a review or audit. They are typically faster and less expensive than reviews or audits.

With Compiled financial statements, your Company can raise up to $124K through Reg-CF. For more details, refer to CrowdFunding Services.

Review Of Financials

The primary goal of a financial statement review is to enhance the credibility of the financial statements, which can be useful for management, investors, creditors, and other stakeholders. It is often used by smaller companies or those that do not require a full audit.

A review typically includes the following:

Inquiry and Analytical Procedures: Accountants make inquiries of company management and apply analytical procedures to the financial statements. This can include reviewing financial ratios and trends, comparing the current year to prior years, and comparing the company's performance to industry benchmarks.
Limited Assurance: Unlike an audit, a review provides limited assurance. This means the expresses an opinion on the financial statements stating nothing has come to their attention that causes them to believe the financial statements are not in accordance with the applicable financial reporting framework.
Review Report: At the conclusion of a review, the accountant issues a review report, which includes a statement of limited assurance and describes the nature and scope of the review procedures performed.

A review of financial statements can help your Company raise up to $1.235M under Reg-CF. For more details, refer to CrowdFunding Services.

Audit of Financial Statements

The objective is to provide reasonable assurance that the financial statements are free from material misstatement.

An Audit typically entails:

Audit Procedures: Auditors perform various procedures to gather audit evidence. These procedures include:

Confirmation Procedures: Sending out confirmations to bankers, legal counsel, major customers and vendors etc.
Tests of Controls: Evaluating the effectiveness of the entity's internal controls over financial reporting.
Substantive Testing: Performing detailed testing of account balances and transactions. This includes inspection, observation, confirmation, recalculation, and analytical procedures.

Audit Report: At the conclusion of the audit, the auditor issues an audit report.

An Audit of Financial Statements can help your Company raise up to $5M under Reg-CF or up to $75M under Reg-A+. For more details, refer to CrowdFunding Services.