Compiled financial statements represent the most basic level of service that certified public accountants provide with respect to financial statements. In a compilation, the CPA must comply with certain basic requirements of professional standards, such as having a knowledge of the client's industry and applicable accounting principles, having a clear understanding with the client as to the services to be provided, and reading the financial statements to determine whether there are any obvious departures from generally accepted accounting principles (or, in some cases, another comprehensive basis of accounting used by the entity). It may be necessary for the CPA to perform "other accounting services" (such as creating a general ledger for the client, or assisting the client with adjusting entries for the books of the client (before the financial statements can be prepared). Upon completion, a report on the financial statements is issued that states a compilation was performed in accordance with AICPA professional standards, but no assurance is expressed that the statements are in conformity with generally accepted accounting principles. This is known as the expression of "no assurance." Compiled financial statements are often prepared for privately-held entities that do not need a higher level of assurance expressed by the CPA.
A Commitment letter sample to TSC, which stands for Teacher Service Commission, is a document used by teachers in Kenya to affirm their commitment to serving in the education sector. This letter serves as evidence of a teacher's dedication and willingness to fulfill their responsibilities towards TSC. Keywords: Commitment letter, sample, TSC, Teacher Service Commission, Kenya, dedication, responsibilities, evidence, willingness, education sector. In the Kenyan context, there are different types of Commitment letter samples to TSC, each tailored to specific situations. These variations include: 1. Initial Employment Commitment Letter: This type of letter is used by newly recruited teachers who are expressing their commitment to the TSC for the first time. It outlines their readiness to commence duties and uphold the professional standards of teaching. 2. Contract Renewal Commitment Letter: Teachers who have successfully completed their previous contracts with TSC may be required to submit a commitment letter confirming their willingness to continue their service. This letter assures the commission of their dedication and competence. 3. Transfer Request Commitment Letter: If a teacher wishes to be transferred from one institution to another, they may be asked to provide a commitment letter to the TSC. This letter ensures that the teacher is committed to the new assignment and understands the implications of the transfer. 4. Promotion Commitment Letter: When a teacher is promoted to a higher position within TSC, they may need to write a commitment letter to express their readiness to take on additional responsibilities and contribute to the growth of the education sector. 5. Professional Development Commitment Letter: This type of commitment letter is typically used by teachers who are seeking opportunities for further professional development. It affirms their dedication to improving their skills and knowledge to better serve TSC. In all types of commitment letters addressed to TSC, the content generally includes the teacher's full name, TSC registration number, designation, current posting, contact details, and a declaration expressing their commitment, punctuality, professionalism, and compliance with TSC policies and regulations. Remember, these are just examples of commitment letters, and the actual content may vary based on individual circumstances and requirements.
