Businesses require financial statements for users such as owners and managers, and for investors and financial institutions. We provide the following financial statement preparation and assurance services:
Compilation Engagement (Notice to Reader)
We use the information provided by the client to prepare the financial statements, but do not “review” or “audit” this information. Users are cautioned that these statements may not be appropriate for their purposes.
We review the financial statements to establish that the statements are credible and not misleading. Also, we ascertain that nothing has come to our attention that would indicate the statements were not prepared in accordance with Canadian accounting standards.
In an audit engagement, we provide an independent and objective opinion that the financial statements fairly present a company’s financial position, financial performance and its cash flows.
Generally, Canadian corporations are required to have an annual audit performed. However, some privately-owned corporations may waive this requirement by passing an annual resolution signed by all shareholders.