Client Services

Accounting and Attestation Services

Review and Compilation Services

Different Levels of Service Can Satisfy Your Needs

Privately-owned entities sometimes believe they need an audit, when a review or compilation of financial statements may actually be enough to satisfy their needs. These services are considerably less time-consuming than an audit. They have the added benefit of a lower cost.


A review provides interested parties with a lower level of assurance than an audit, but more assurance than a compilation. During a review, an LLG CPA, following accepted accounting standards, will conduct a battery of analytical procedures such as ratio analysis, or a comparison of results with prior periods or a comparison with industry standards, to gain additional insight into the financial statements. Questions will be asked of management regarding accounting policies and procedures, operations and personnel. However, unlike an audit, a review does not provide for verification of data by a third party or the physical inspection of assets. Internal controls are not evaluated.


A compiled financial statement presents information that is the representation of management or the owners without undertaking to express any assurance on the statements. There are no inquiries of management or analytical procedures. Banks often require compilations from an independent CPA as part of their lending covenants.

“Whether you choose an audit, review or compilation depends on the specific circumstances, the requirements of the bank or other parties, and sometimes budget considerations.”
–Bill Finestone, Managing Partner

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Find out what’s best for you – a review or compilation report.