(EN) A compensation waler assembly (400) for connecting and aligning a pair offormwork panels (200) with each other is disclosed. 5 The compensation walerassembly (400) includes a first bar (702-1), a second bar (702-2) disposed abovethe first bar (702-1), and a pair of hook sub-assemblies (704) disposed betweenthe first bar (702-1) and the second bar (702-2). Each hook sub-assembly (704) isadapted to be engaged with one of the pair of formwork panels (200). Each hook10 sub-assembly (704) includes a hook-shaped portion (902) formed at one end ofthe hook sub-assembly (704) and adapted to be removably engaged with a slotformed in the respective formwork panel (200). The hook sub-assembly (704)further includes a distal portion (904) formed at the opposite end of the hook subassembly(704) and comprising a slot (706), and a locking component (708)15 adapted to be accommodated in the slot (706) to secure the hook sub-assembly(704) on the respective formwork panel (200).