Compilation Engagement Reports & Corporate Tax Packages
meet your bank's requirements with our CPA services.
Navigating Financial Reporting Requirements
Our CPA team specializes in providing compilation reports (formerly known as Notice to Readers) and corporate tax packages for Canadian businesses. We help you present standardized financial information to satisfy your bank's requirements.
How can I tell if I need a compilation report, previously known as a Notice to Reader (NTR)?
Within a loan agreement, you will typically see a clause about the type of annual financial reporting needed (compilation, review, or audit). Check any existing loan or financing agreements to see if financial statement requirements are specified.
A bank may require this report to confidently rely on the financial information provided, especially if it needs to meet specific covenants at year-end.
What exactly is a compilation report?
A Compilation Report is a type of financial information report prepared by a Chartered Professional Accountant (CPA) with a specific Compilation Licence required to prepare these reports.
These reports compile financial information provided by a client in accordance with CSRS 4200 standards and Applicable Accounting Framework. They involve organizing the financial data into proper financial statement formats (like balance sheets and income statements) but do not involve any assurance or auditing procedures.
What information does a CPA typically need to prepare a compilation report at year-end?
To prepare a year-end compilation report, we typically need access to your accounting software to retrieve the trial balance. We will rely on the accuracy and reconciliation of the information provided.
Additionally, we may require supporting documents for the balances, such as bank statements and reconciliations.
We will also need details about your accounting policies as well as comparative financial statements from previous periods for reference.
A letter or communication from management acknowledging their responsibility for the financial statements and providing necessary disclosures is essential (we will provide a template for this, which you will sign).
Finally, information about the entity’s operations, including its structure, significant transactions, and changes in financial condition, will be helpful.
We are Bordeleau CPA
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Carissa Bordeleau, CPA, CA
Bringing over 12 years of experience in the financial services industry, Carissa previously worked with the world’s leading accounting firm, Deloitte, as Manager in Audit and Advisory, and with Stream Financial as Head of Advisory.
As Managing Director, Carissa draws on her innovative, entrepreneurial mindset and expertise to drive the firm’s development and growth strategies.
Carissa holds a CPA, CA from The Institute of Chartered Professional Accountants of Nova Scotia, as well as a Bachelor of Commerce at the Sobey’s School of Business at Saint Mary’s University.
When not in the office you can find Carissa oil painting and spending time with her husband (to the right), two young boys and dogs, Edwin and Walter.
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Jeremy Bordeleau, CPA, CA
Jeremy is a Chartered Professional Accountant (CPA, CA) and has completed all three levels of CPA Canada’s In-Depth Tax Program. He has a Bachelor of Commerce from the Sobey’s School of Business at Saint Mary’s University.
Jeremy spent the last 12 years working for the world’s second leading accounting firm, PwC, where he specialized in tax planning and compliance for private owner-managed entities and corporate groups.
In 2007, Jeremy won a silver medal at the Pan American Games in the men's K-4 1,000 metres event, along with Canadian Olympians Angus Mortimer, Mark de Jonge and Chris Pellini.
Outside of helping clients with taxes, you can find Jeremy in his home gym, kayaking, and playing with his boys.
How it Works
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Initial Consultation
We start with a discussion to understand your business's unique needs and the specific financial reporting requirements.
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Document Gathering
We guide you on the documents and information we need, including access to your accounting software and supporting documents.
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Data Compilation
We compile and organize your financial information in accordance with CSRS 4200 standards.
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Report Preparation
We prepare your compilation report, ensuring it meets all necessary requirements for your bank or stakeholders.
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Review & Delivery
After a thorough review, we deliver the final report to you, which can then be sent to your bank or stakeholders.
