top of page
  • Writer's pictureAdmin

Don't finalize your financials until your bond agent has looked at the draft!

Here's how the process of issuing a review or compilation report with financial statements should look like:

1) Your CPA sends you a draft of the financial statements along with all the necessary journal entries and the adjusted trial balance for you to review for reasonableness.

2) If the draft looks good to you, ask your bond agent to review it as well. I'm sure he or she will have some questions, especially about your WIP schedule. Your agent has a different perspective on your financial statements and can offer valuable insights into your WIP. They know what will be questioned by your underwriter so it's best to address those questions upfront as much as possible, in case there's a need for an adjustment.

3) Proceed with finalizing the report!

Thank you!


8 views0 comments


bottom of page