William Denver, CPA, has just completed a compilation of financial statements for the Hale Company,...
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Accounting
William Denver, CPA, has just completed a compilation of financial statements for the Hale Company, a nonpublic corporation, and is now considering the form of report that should be issued. REQUIRED: Describe briefly the format of a compilation report. (2) What modifications to the compilation report should be made if the owner of the company requests that substantially all disclosures required by generally accepted accounting principles be omitted? How would Denver's compilation report be affected if he has not been paid for compiling the prior year financial statements of the company? (3)
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