Accounting Services

Once we evaluate with you the objective of your financial statements and your fiscal goals we will recommend an audit, review, or compilation.

Notice to Reader - Compilation

Generally, a compilation engagement is only suitable for internal use by management or for limited use, such as income tax.

Although no assurance is provided by the accountant to the user of the financial information, a CPA will not be associated with financial information he or she knows, or has reason to believe, is misleading or incorrect.

We may recommend a compilation if:

  • You require interim financial statements to supplement your annual review or audit,
  • the business is small,
  • the business is owned by members of one family,
  • there are no lenders or insurers who will rely on the financial statements,
  • your needs for financial planning, tax planning, and accounting system advice are very limited,
  • or you require the financial statements primarily for your own use and for tax purposes.


A company will generally secure an accountant to prepare a review of financial information to provide some assurance to creditors, potential lenders, potential business purchasers, and/or minority or inactive shareholders that the financial statements are worthy of belief.

We may recommend a review if there are no requirements for an audit and:

  • You rely on banks or other lenders for financing,
  • your financial statements may be relied upon by potential purchasers of the business,
  • or there are minority or inactive shareholders.
  • A review would improve our capacity to provide you with financial planning or tax planning services or advice concerning your accounting methods.

Financial Audit Options

The audit is comprised of an examination of the accounting records and other data supporting the financial statements. The auditor will compile the evidence required to verify whether the financial statements render an acceptable representation of the company's financial position and its activities during the period being audited. The auditor's report will include a professional opinion on the financial statements.

Small, closely held companies will generally only have an audit if there is a requirement from a third party, such as a securities commission, or if the shareholders are unable to agree that an audit should be waived. More often, such private companies can rely on the lower level of assurance provided by a review, rather than an audit.

  • We may recommend an audit if:
  • your bank or other lender requires an audit,
  • your insurance company requires an audit,
  • your shareholders require or desire an audit,
  • a regulatory body requires an audit.