Compilation engagement
A compilation engagement uses accounting and financial reporting expertise to assist management in preparing and presenting financial information. Management remains responsible for the information. The practitioner does not obtain evidence to express an audit opinion or review conclusion merely by compiling it.
Worked example
An accountant assembles a small business’s trial balance into financial statements based on management’s records.
Common mistake
A compilation is a related service, not an audit, and the compilation report does not provide assurance.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | AAA (INT) | Supporting | September 2026–June 2027 |