Compiled or reviewed financial statements prepared by a licensed CPA for your lender, investor, or business partner.
Financial statements prepared by a CPA based on information provided by management. No assurance is provided.
Your bank, lender, or partner requires financial statements prepared by a CPA. This is the most common level for private businesses.
Financial statements with limited assurance, a higher level of credibility than a compilation.
Your lender, investor, or governance requirements demand a higher level of assurance than a compilation provides.
Tell us what you need and who requires the financial statements. We recommend the right engagement and provide a quote.
We collect your financial records and supporting documentation.
We prepare and deliver your financial statements, ready for your lender, investor, or stakeholder.
A compilation involves preparing financial statements based on information and explanations provided by management, with inquiries as needed. No assurance is provided. A review goes further. It includes analytical procedures and more extensive inquiries, and the CPA issues a limited assurance report.
It depends on who is requesting the statements and what they require. Most private businesses need a compilation. If your lender or investor specifically asks for reviewed financial statements or limited assurance, then a review engagement is required. We can help you determine the right level.
Pricing depends on the complexity of your business and the type of engagement. We provide a clear quote before any work begins.
A T2 is your corporate tax return filed with the CRA. Compiled or reviewed financial statements are separate. They're prepared for lenders, investors, partners, or governance purposes. Some businesses need both.
A compilation typically takes up to one week and a review up to two weeks. In both cases, the timeline depends on how quickly we receive your documentation.
Book a discovery call and we'll recommend the right level based on your situation.
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