Generally, the surety would like to see an audited, latest year-end financial statement (which means a certificated, CPA firm has reviewed financial information and verifies the information). Sometimes, they would accept a compiled (or unaudited) financial statement. And, infrequently, they would accept a computer print-out which is not reviewed by any outside firm or tax return. Also, a personal financial statement of a person willing to indemnify for the bond, can be useful. Any form not verified by a CPA firm, should be signed by an officer or owner stating that they are attesting to the accuracy of the information presented. If any financial information is over 8 months old, then the surety would usually request a current interim (partial year) statement. Failure to provide acceptable financial information would slow the process of review and approval.

A financial statement consists of three main parts:

Balance sheet (assets and liabilities)

Income statement (profit and loss)

Notes (from the independent accounting firm)

The financials provide a picture of the financial status of the importer at the date of the financials. The surety is attempting to project the ability of the importer to satisfy the future financial obligations.