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INDEPENDENT ACCOUNTANT IS COMPILATION REPORT ON ANNUAL SURVEY OF CITY AND TOWN FINANCES PURSUANT TO SECTION 17105.1 OF TITLE 11 OF THE OKLAHOMA STATUTES Honorable Mayor and City Council City of The

How to fill out independent accountant s compilation

How to fill out independent accountant's compilation:

1. Gather all relevant financial information, including financial statements, balance sheets, income statements, and cash flow statements.
2. Organize the information in a systematic and chronological order.
3. Review the financial statements for accuracy and completeness.
4. Perform necessary calculations and adjustments to ensure the financial statements reflect the true financial position of the company.
5. Prepare notes to the financial statements that provide further explanation or disclosures.
6. Obtain supporting documentation for all financial information, such as invoices, receipts, and bank statements.
7. Verify the accuracy and reliability of the supporting documentation.
8. Cross-reference the financial statements with the supporting documentation to ensure consistency.
9. Prepare a compilation report that includes a statement stating that the financial statements were compiled by an independent accountant.
10. Review and finalize the compilation report, making sure it complies with relevant accounting standards and regulations.

Who needs independent accountant's compilation:

1. Small businesses that need to provide financial statements to stakeholders, such as shareholders, potential investors, or creditors.
2. Non-profit organizations that are required to submit financial statements to regulatory bodies or grantors.
3. Individuals or entities applying for loans or credit that need to demonstrate their financial position and creditworthiness.
4. Government entities that are mandated to provide financial reports to the public or other government agencies.
5. Companies undergoing a financial audit or investigation that require the assistance of an independent accountant to compile financial information accurately.

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