An accounts compilation review or audit exempt file review is an assessment of the quality of work carried out on an accounts compilation, taking into account the extent to which the accounts comply with the relevant financial reporting standards.
An accounts compilation file review features a detailed review of the working papers of an accounts compilation engagement, to provide an assessment of and feedback on the quality of the work.
Accounts compilation file reviews can be carried out either at your office or remotely. As a guide, we can typically review three accounts compilation files in a day, although this will depend on the size and complexity of the assignments.
The review will include a discussion of key findings and areas for improvement, either face-to-face (for reviews at your office) or by telephone / video call (for remote reviews). You will receive a comprehensive written report offering practical recommendations on how to improve the quality of the work, ensure compliance with the relevant financial reporting standards and where relevant, ICAEW AAF07/16 or AAF08/16. Where applicable, this will also highlight areas where the efficiency of the engagement may be improved.
While we're on site, we can carry out multiple reviews—giving you more value from our experts in one visit.
Most of our reviews can also be completed remotely, get in touch to discuss how we can help you
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