Compilation Engagements

Your financial statements prepared by a CPA, in accordance with CSRS 4200.

Compilation is one of the most common services offered by CPAs in Canada, and the one most frequently requested by small and medium-sized businesses, real estate investors, and small nonprofit organizations. The principle is simple: your financial statements are prepared by a CPA based on the figures you provide.

Compilation falls under related services (CSRS 4200): it provides no assurance and is not an assurance engagement. The financial statements are marked “Unaudited – see Compilation Engagement Report.” This is the appropriate solution when third parties do not require a review or an audit.

Compiled financial statements are commonly requested by lenders, for a mortgage renewal or a line of credit, for example, as well as by a business partner or investor who wants to see how the business is performing. As part of the engagement, the firm also reviews your bookkeeping, since these financial statements serve as the basis for preparing your tax returns.