One of the most important functions of audit and accounting firms is to compile financial statements. These financial statements play a vital role in the auditing and review function and are used by companies to apply for financing and to provide information to stakeholders.
As such employees who compile financial statements must have an understanding of how this is done, and if it is an independent compilation engagement, what rules to follow.
The purpose of this course is to teach delegates how to compile GRAP financial statements in Draftworx.
A successful compilation of a set of financial statements hinges on the following:
- Understanding the financial reporting framework requirements, e.g., IFRS
for SMEs
- Knowing what supporting documents and schedules to request from a
client
- Being comfortable with the compilation software utilised
Our goal is to help introduce you to Draftworx’ compilation software template, show you how to import a trial balance and pass adjustments to update it for the financial reporting framework requirements, and ultimately to turn it into a PDF document that you can hand to your clients.
