DECISION INFORMATION
Bring the accounting records into a coherent statement set.
Financial statement preparation organises accounting information into an agreed presentation and supporting disclosures. The work begins with the reporting purpose and the records available, not with selecting a template. We define the preparation scope and the applicable decisions with you before assembling the statement set.
Determine the reporting requirements
We establish the entity, period, intended use and relevant reporting basis to be assessed for the engagement. Prior statements, ledgers, schedules and significant transactions help identify the work required. Accounting policies and material estimates require appropriate review and management involvement. A previous format is not assumed to remain suitable without consideration.
Assemble and review the supporting information
The scope may include reconciling statement figures to the trial balance, organising schedules and identifying disclosure questions. Unexplained balances are referred for resolution. Comparatives and changes in presentation are considered within the agreed work, with limitations explained where records are incomplete. Preparation does not eliminate the need for management to approve the information.
Distinguish preparation from assurance
The final output is described according to the service actually performed. An audit or review opinion is not included merely because the statements are professionally presented or carry a verification reference. Any separately regulated engagement, filing or submission requires its own acceptance and appropriate authority. Document release follows the agreed approval process.
Common questions
What should we provide initially?
The entity name, reporting period, purpose, current accounting software and availability of prior statements are enough to begin the assessment. A detailed document list follows.