This firm will prepare your financial statements according to the Canadian Accounting Standards for Private Enterprises (ASPE). I prepare such financial statements within the engagement framework agreed to in writing, (in the form of a standard document titled engagement letter) signed by my client and this firm.
Below are links to illustrative examples of pages to financial statements.
Retained earnings statement
Cash flows statement
Notes to financial statements
This office will provide either one of the following two types of engagements for the preparation of your business's financial statements.
- Notice to reader engagement
- Review engagement
For a Notice to Reader engagement, I use professional standards to produce financial statements based on information provided by you. I examine your company's accounting and bookkeeping for reasonableness and correctness, making any necessary corrections and year end adjustments. And once I conclude this process, I draw up your financial statements for issue. Or I can provide this service together to other services which I may provide, such as accounting, if you do not have your own accounting department, and normally a business tax return. I do not specify any level of assurance when doing a Notice to Reader engagement, as is standard practice.
For a Review Engagement, this office continues from a Notice to Reader. In addition, I do certain more stringent analytical tests and enquiry and discussions with you (manager). No accounting service is provided together with a review engagement. I prepare your financial statements based on a moderate level of assurance.
The level of service and the type of engagement executed depends on your needs and certain requirements of third parties such as bankers and investors.