Companies without an accountant can have their financial statements prepared at a lower cost than a review or audit. These refer to financial statements prepared or compiled by an organization’s external accountant. This is alternatively referred to as a write-up, whereby the outside accountant converts client’s data into financial statements without providing any assurance or auditing services. Typically, a compilation report should accompany the compiled financial statements and it should state that the financial statements are management’s representation of the organization and have neither been reviewed or audited and that the accountant expresses no opinion or assurances on them.