Financial Statements

Compilation Engagement: The objective of a compilation engagement is to present financial information without any opinion or guarantee as to the accuracy of the source data. The information used in a compilation is based on the information that was received from the business owner in Canada.

Review Engagement: Limited assurance is provided, meaning we undertake a basic validation process to review the data, including a review of the company’s accounting practices, investigation of inconsistent findings, looking into unusual transactions, etc. This is ideal if you want to identify opportunities for improved processes or provide some assurance to a third party, such as a financial institution, without a full-blown audit.

Audit Engagement: This type of engagement is used to form an opinion on whether the financial statements are prepared in accordance with the applicable reporting framework. An audit engagement involves our team of experts reviewing business procedures, accounting systems, internal controls, and conducting interviews with key staff.

The type of engagement you need will depend on who is asking for the report and why it is required. To better understand what you need, book a free consultation and tell us a little bit more about what you need.