CSRS 4200
Compilation engagements in Kelowna
A compilation engagement is the most common year-end product for an owner-managed corporation: financial statements compiled from the information you provide, with no assurance attached, prepared alongside your T2 corporate return.
M. Saini CPA Inc. is a Licensed Public Practice Firm of British Columbia, which is what allows us to issue the Compilation Engagement Report your bank or shareholders are asking for.
What changed under CSRS 4200
The old Notice to Reader was replaced by CSRS 4200 for periods ending on or after December 14, 2021. Compiled statements now have to disclose the basis of accounting used, and the engagement report must state that the statements may not be appropriate for third parties who cannot request further information.
In practice this means more up-front conversation about who will read the statements, and a note describing how the figures were prepared.
What is included
We start from your bookkeeping records, adjust the trial balance, and prepare the compiled financial statements together with the corporate tax return so the two agree.
Assistance to management on adjusting entries is part of the engagement — you get an explanation of what moved and why, not just a revised balance sheet.
Who it suits
Owner-managed corporations, professional corporations, holding companies and small partnerships whose lenders and shareholders do not require assurance.
If your bank has asked for something more, we also perform review engagements for private corporations and not-for-profit organizations.
Contact us for rates and fees
Depending on the nature and timing of the engagement, we offer an hourly rate, a flat rate or a fixed annual fee. Our accountants and bookkeepers keep detailed logs of the time they spend on your engagement. Work logs can be disclosed to clients upon the closing of their engagement. We only work for as long as the engagement requires, so you’ll never be over-billed for unproductive time.
- Office hours
- Monday - Friday9AM - 5PM Pacific
- ☎ Contact
- (250) 410-4456
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Request a quote
Use the form below to tell us about your accounting or tax inquiry, and we’ll call you back to schedule an appointment. Please be as detailed as possible. Include the type of service you are looking for along with any specific requests. Our general response time is within 48 hours.
- Licensed Public Practice Firm of British Columbia (BC)
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