Accountant’s compilation report
A compilation report is issued when an accountant prepares the financial statements based on information provided by the organisation. No audit or assessment takes place; responsibility for the content lies with the company. The auditor ensures correct presentation in accordance with applicable laws and regulations, including Standard 4410 and Title 9, Book 2 of the Dutch Civil Code. The work is carried out in accordance with the ethical rules for accountants, such as integrity, objectivity and confidentiality.
The text of the compilation report may read as follows:
Accountant’s compilation report
To: Client
The financial statements of âĤ (name of entity/entities) in âĤ ((statutory) place of business) have been compiled by us/me on the basis of the information provided by you. The financial statements consist of the balance sheet as at 31 December 201X and the profit and loss account for 201X with the accompanying notes. These notes include an overview of the accounting policies used.
We have performed this compilation engagement in accordance with Dutch law, including Standard 4410, âCompilation Engagementsâ, applicable to accountants. Under this standard, we are expected to assist you in preparing and presenting the financial statements in accordance with Title 9, Book 2 of the Civil Code (BW). In doing so, we have applied our expertise in the field of administrative processing and financial reporting.
In a compilation engagement, you are responsible for ensuring that the information is accurate and that you provide us with all relevant information. We have therefore carried out our work in accordance with the applicable regulations on the assumption that you have fulfilled this responsibility. As a final step in our work, we have reviewed the financial statements to ensure that they are consistent with our knowledge of âĤ (name of entity or entities).
Optional: <<We have not performed any audit or review procedures that enable us to express an opinion or draw a conclusion regarding the fairness of the financial statements.>>
In carrying out this assignment, we have complied with the relevant ethical requirements applicable to us in the Regulation on Conduct and Professional Rules for Accountants (VGBA). You and other users of these financial statements may therefore assume that we have carried out the assignment professionally, competently and carefully, with integrity and objectivity, and that we treat the information you have provided confidentially.
Optional: <<For further information on the nature and scope of a compilation engagement and the VGBA, please refer to www.nba.nl/uitleg-samenstellingsverklaring.>>
Place and dateâĤ
(name of accounting firm)âĤ
(name of accountant)
Would you like to know more about the Compilation Report?
Please also read the brochure: The accountant reports!