Chrome AccountingThe financial statements your bank, landlord, or lender is asking for.
A compilation engagement — often called a "Notice to Reader" — organizes your business's financial information into a standard set of statements. It's the most common requirement from lenders, landlords, and franchisors, and the fastest, most affordable of the three levels of financial statement assurance.
What a compilation engagement includes
- Balance sheet and income statement — compiled from your bookkeeping records into a standard financial statement format.
- Notice to Reader — the compliance report that accompanies the statements, confirming they were compiled by a CPA.
- Notes to the financial statements — disclosures lenders expect to see alongside the numbers.
- Formatting to your lender's specifications — many banks and landlords have specific requirements; we make sure the statements meet them.
Compilation vs. review vs. audit
Canada has three levels of financial statement assurance, and lenders don't always specify which one they mean. Here's the difference in plain terms:
Compilation (NTR)
No assurance given — statements are organized from information you provide. Fastest and least expensive. Most common for small business financing.
Review Engagement
Limited assurance — the CPA performs analytical procedures and inquiries. Costs more, sometimes required for larger financing.
Audit
Highest level of assurance, with detailed testing. Typically required for public companies or by specific lender covenants.
Not sure which one your lender actually needs? We can review the request and tell you — sometimes what's asked for informally turns out to be a compilation engagement, which is faster and less expensive than people assume.
Have a lender deadline?
Tell us who's requesting the statements and by when — we'll confirm scope and turnaround time upfront.
Book a ConsultationOr call (289) 969-3491
Go deeper on financial statement requirements
Compilation vs. Review: Which Does Your Lender Actually Need?
A closer look at how to tell which level of statement your bank is really asking for.
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Compilation engagements and corporate tax filing are often done together at year-end.
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How your compensation strategy shows up on the financial statements lenders see.
Read article →Get your statements to your lender on time.
Tell us the deadline — we'll tell you exactly what we need from you to hit it.