Tax Planning Strategies
CPA Review vs. Compilation vs. Audit: Which Do You Need?
Compare CPA compilation, review, and audit engagements under SSARS and auditing standards to find the right assurance level…
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Assurance
Assurance service
Financial Statements & CPA Reports for Contract Bids, Licensing and Regulators
Sureties, agencies and licensing boards each word their requirement differently. We match the exact wording to the right report — and tell you when a requirement needs something we don’t offer.
- Matched to the requirement
- Review · AUP · PFS
- No solvency statements
Requirement → engagement
Find your wording, see what satisfies it.
A black result means a review won’t satisfy that requirement.
Requirement wordingWhat satisfies it
“CPA-reviewed financial statements”Review engagement
“Financial statements prepared by a CPA”Compilation or preparation
“Audited financial statements”Not satisfied by a review — audit required
“Working capital confirmed by a CPA”Agreed-upon procedures
“Owner’s personal financial statement”Personal financial statement
“Letter confirming financial condition”AUP findings on historical facts
We perform only the agreed procedures and report findings. No opinion or conclusion is expressed.
Where requirements come from
Four common requesters.
Each has its own wording — send us yours.
Surety bonding
Bonding capacity and work-in-progress.
Government contracts
Financial capability in a bid.
State licensing
Financial statements for a license.
Regulators & grants
Specific figures on request.
Financial condition confirmations
Can a CPA confirm our financial condition?
A CPA can report findings on specific historical facts — such as working capital at a date — through agreed-upon procedures. No CPA should state that a business is solvent or will remain able to perform.
Oct 28, 2026Agreed-Upon Procedures Report
How an engagement works
Four steps, clearly defined.
- 1
Send the wording
Exactly as the requester wrote it.
- 2
Match
We confirm which engagement satisfies it.
- 3
Perform
Under the applicable standard.
- 4
Deliver
A report the requester can use.
Licensed CPA sign-offEvery report and letter
AICPA standardsSSARS and SSAE, cited by number
Independence firstConfirmed before we accept
Secure portalDocuments never sent by email
FAQ
Frequently asked questions.
Reviewed by the NexusWorks assurance team · Last updated Oct 28, 2026
Often, if the requirement says “reviewed”. If it says “audited”, a review won’t satisfy it.
We report historical facts, not future capability or solvency.
Out-of-state engagements are accepted where state rules permit.
Match your request
Tell us what was asked for.
Paste the exact wording from your lender, surety or agency. We'll tell you which engagement satisfies it — and if it doesn't fit what we offer, we'll say so.
Out-of-state engagements accepted where state rules permit.