Twilley, Rommel & Stephens, P.A. prepares financial statements in accordance with generally accepted accounting principles in the form of either a compilation or review. In a compilation engagement we assist management in presenting financial information in the form of financial statements without undertaking to obtain or provide any assurance that there are no material modifications that should be made to the financial statements. In comparison, a reviews seeks to obtain limited assurance. The most significant difference between the two levels of service is the absence of inquiry and analytical procedures in a compilation. In many cases a compilation will suit a client’s needs, but at times a review is necessary. The firm will assist the client in deciding which level of service is most appropriate given the client’s needs and budget.
In addition, we can provide a number of other services relating to financial statement presentation such as interim reporting, forecasts and projections, and agreed-upon procedures.