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V98INDEPENDENT ACCOUNTANT\'S COMPILATION REPORT February 28, 2014, City of Comanche 500 N. Rodeo Drive Comanche, OK 73529We have compiled the 201213 State Auditor and Inspector Form 2643 (Annual Survey

How to fill out independent accountants compilation report

How to fill out independent accountants compilation report

1. To fill out an independent accountants compilation report, follow these steps:
2. Start by gathering all the necessary financial documents, such as income statements, balance sheets, and cash flow statements.
3. Review the financial statements and ensure they are free from material misstatements.
4. Prepare a summary of significant accounting policies employed by the business.
5. Evaluate the appropriateness of accounting principles used and consistency in their application.
6. Assess the overall presentation of the financial statements and ensure they comply with relevant accounting standards.
7. Prepare the independent accountants compilation report, including a title that clearly indicates its purpose.
8. Provide a brief description of the responsibilities of management for the financial statements.
9. Include a statement indicating that the compilation was performed in accordance with applicable professional standards.
10. Sign and date the report as the independent accountant.
11. Attach the report to the financial statements and ensure it is properly labeled and organized.

Who needs independent accountants compilation report?

1. Various entities and individuals may require an independent accountants compilation report, including:
2. - Small businesses seeking to present their financial statements to potential investors or lenders.
3. - Not-for-profit organizations looking to demonstrate the financial health of their operations to donors or grantors.
4. - Government agencies or regulatory bodies requiring financial statements for compliance purposes.
5. - Publicly traded companies ensuring transparency and accountability to shareholders and stakeholders.
6. - Banks or financial institutions evaluating the creditworthiness of a borrower.

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