Write-up work definition
/What is Write-Up Work?
Write-up work involves the preparation of financial statements for a client without first reviewing or auditing the underlying information. This is a relatively low value-added activity, so the fee charged to the client for this service is generally low. An accountant is most commonly hired for write-up work by clients who do not have any employees who are qualified to produce these reports. Thus, it can be a source of steady, low-margin work for independent accountants.
Example of Write-Up Work
An example of write-up work is when a small business owner hires an accountant to prepare year-end financial statements based on the company’s internally maintained records. The business provides bank statements, sales ledgers, expense receipts, and payroll summaries, but the accountant does not verify the accuracy of these documents or perform any audit procedures. Instead, the accountant uses the provided data to generate the balance sheet, income statement, and statement of cash flows. The final financial statements are labeled to indicate that no assurance is provided, and they are typically used for internal decision-making or submission to lenders for informational purposes only.