Similarly, sufficient financial transparency (in the form of financial records) is a prerequisite for many business buyers. Aside from year-end tax preparation, one of the most common services provided by accountants is the preparation of financial statements. “Business owners don’t just need their accountants to come up with the financial statements,” he says. The level of sophistication varies by the level of assurance a CPA is willing to provide to financial statement users when evaluating the financial health of a business. There are two types of services that produce unaudited statements: compilations and reviews.

Source: Forbes November 26, 2016 11:48 UTC