Compilation of Financial Statements
The purpose of the compilation work is to gather, classify, and summarize in the form of Financial Statements (individual and evaluated) the information that arises from the accounting system and includes affirmations of the Company’s management. It does not imply giving an opinion, concluding, or providing security on the content of the information displayed.
When a report of a compilation of Financial Statements individual and/or consolidated is emitted, the Auditor must ensure the information is displayed under the applicable regulations regarding its exposure.
To compile financial information, the Auditor requires a general understanding of the nature of the company’s transactions, the form of its records, and the accounting basis on which information will be presented.