What does a CPA do in a Compilation?

In a compilation, a CPA organizes financial data into financial statements while providing no assurance that the statements are accurate or free from material misstatements. This process involves taking the information provided by a client and formatting it into a standardized set of financial statements. The CPA does not conduct an audit or review; hence, they do not express an opinion on the fairness or accuracy of the financial statements. The goal of a compilation is to assist the client in presenting their financial information in a structured manner, which can be useful for external stakeholders or internal decision-making purposes.

The other options describe actions or assurances that fall outside the scope of a compilation, such as guaranteeing accuracy or conducting detailed assessments. These actions would be more typical of audits or reviews, which involve greater levels of scrutiny and assurance regarding the financial statements.