Notice-To-Reader Engagements:

A compilation (also referred to as a notice-to-reader) is the most common type of financial engagement. It is exactly what it sounds like- a compilation of your financial information at your fiscal year-end date. This engagement provides you with unaudited financial statements to review as a business owner. It is a reporting tool to assess the financial health of your company. While for many, these statements are the end product, we treat these statements as the beginning for you see what has transpired in your business in the past year and learn from it to succeed in the future.

Accounting / Bookkeeping:

Our firm does year-end bookkeeping and accounting for many corporations. We prepare the unaudited financial statements, corporation tax returns, GST/HST returns, T4 slip and summaries for employees, T5 slip and summaries for dividends, ROEs for employees and more. We help small and mid-size businesses do proper tax planning between corporation and personal taxation. Every year we provide a new memo for you to follow with all your payment obligations to CRA for the entire year for all of your tax accounts. This tool is your key to avoiding year-end cash flow problems resulting from paying too much tax at one point in time. If your corporation has not filed in several years, we can help with that too. If you have not received any contact from CRA, you might be a candidate for a Voluntary Disclosure which would get you filed without penalties.

Review Engagements:

This type of engagement is a higher standard than the compilation engagement discussed above, but less than an audit. This engagement is commonly required when you need to borrow money and the bank requests that your company has a review engagement in order for them to feel confident lending you the money. The additional work we perform comes in the form of discussion, inquiry and analysis. We will analyze areas of your business and ask for much more for documentation and explanation than a compilation engagement. This engagement also involves the completion of the financial statements and corporation tax return.

Corporation Documentation List:

Although this list is not comprehensive, these are some of the documents we will ask you for when doing your corporation year-end:

• Articles of incorporation
• Share certificates
• Minute book
• Bank statements
• Investment statements
• Receivables listing
• Payables listing
• Inventory listing
• Purchase and sale agreements
• Legal invoices
• Bad debts

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