Changes to your financial statements - FAQ
For the first time in over 30 years, the standard on compilation engagements has changed. We've summarized the most common questions about these changes in our latest update. Visit our FAQ here
Webinar: New Compilation Engagement Standard – Understanding you financial statements
Understanding your financial statements is crucial to your business's success. During our live discussion on Oct. 14, 2021, we explained in detail the changes to your Notice to Reader financial statements that all public accountants are required to make. If you missed the webinar or would like to watch it again, you can view the recording here.
New compilation engagement standard - FAQ
Our interactive FAQ summarizes the changes under CSRS 4200 so you can confidently hold conversations with your stakeholders and clients. To find out what you need to know now, visit our explainer page.
New compilation engagement standard - Three easy next steps
To help you get started, follow these three easy steps to assess your business needs now and into the future:
- Find out exactly what's changing. These changes are significant–our explainer page provides clarity on these changes so you can be sure you have the right information.
- Understand how it impacts your financial statements. While many of these changes are technical, the new standard has been designed to enhance communication between businesses and their advisors.
- Map the impact to your business and financial statement needs. Knowing what has changed and the resulting impact on your financial statements will enable you to make the right decisions for your business.
We know that your business continues to evolve. As always, your BDO advisor is here to help. Feel free to reach out to us with any questions–about your financial statements or your business.