8.1 The preceding seven chapters have focused on various data sources that may be used to compile a balance of payments statement. This chapter examines the compilation process itself: the institutional arrangements to support the compilation of the balance of payments and international investment position (IIP) are described; the broad issues with estimation are discussed; several issues facing the compiler that impact across the accounts are analyzed, including understanding the net errors and omissions term; and the balance of payments recording system is described.