Document background
A Compilation Letter For Personal Financial Statement is a crucial document in the Indian financial landscape, prepared in accordance with the Institute of Chartered Accountants of India (ICAI) standards, particularly SRS 4410. This document is typically required when an individual needs their financial position formally documented by a professional accountant for purposes such as loan applications, investment opportunities, or major financial transactions. The letter comprises a compilation of the individual's financial information, including assets, liabilities, and net worth, presented in a structured format without providing any assurance. It serves as a middle ground between self-prepared statements and audited financial statements, offering credibility through professional involvement while clearly stating the limited scope of the engagement. The document must comply with Indian regulatory requirements and professional standards, making it a recognized tool for financial documentation in the Indian jurisdiction.
