Get your Notice to Reader (Compilation Engagement) Report, Jargon-Free!

Clear, Concise and Jargon-Free, Tangent Consulting is your one-stop destination to actually understand your financial information. Our in-house CPAs have the expertise needed to breakdown and communicate complex financial reports like the Notice to Reader and Compilation Engagement financial statements that will give you the ability to make informed decisions.

Your Financial Clarity is Our Top Priority

Get informed to make all your financial decisions with confidence

We welcome you to experience the difference that a commitment to financial clarity can make for your business. Every business deserves the confidence that comes with a thorough compilations engagement report made specifically to drive informed decisions. We will provide you with personalized financial data from your business, compiled by experienced business accountants so you can make those crucial financial decisions, eazy breezy!

Benefits of hiring Tangent Consulting Services

One Stop Shop for all Financial Needs
Expert Guidance for Financial Growth
Informed Financial Decision Making
Human Support, a Call Away
Filing Returns on Time, Every Time
Maximizing Financial Savings
Claim All Deductions/Credits
Continued Peace of Mind
Solution-Oriented Team
Avoiding Tax Penalities
Minimizing Tax Liability
Save Time and Energy

Get your Notice to Readers (Compilations Engagement) Report

Information needed for a Compilations Engagement Report

Legal Structure of the Business
Bank Statements for the Period in Question
Access to Accounting Software or Systems (if applicable)
Previous Year’s Financial Statements (if applicable)
Details of Any Significant Financial Transactions or Changes
Information on Any Industry-Specific Regulations or Reporting Requirements
Detailed Financial Records for the Period in Question (including income, expenses, assets, liabilities, and equity)
Other Relevant Financial Information (e.g., loans, investments)

What are the Steps of making a Compilations Engagement Report?

Compilations engagement reports are complex documents that require specialized knowledge and expertise to prepare. The steps involved in preparing a compilations engagement report vary depending on the specific circumstances of the engagement, but they typically include the following:

Understanding business and operations. We first understand the nature of your business and its operations in order to assess the risks involved in the engagement and to identify any areas where your accounting records may be incomplete or inaccurate.
Obtaining and reviewing financial statements. We will review your financial statements for the period covered by the engagement. This will involve identifying and analyzing any unusual or significant transactions or balances.
Performing analytical procedures. We will perform analytical procedures to identify any unusual or unexpected relationships between your financial statements and other information. This may involve comparing your financial statements to prior periods, to industry benchmarks, or to the financial statements of similar businesses.
Inquiring of management. We will need to inquire of management about any unusual or significant matters identified during the engagement. This may involve asking you to explain certain transactions or balances, or to provide additional documentation.
Preparing the compilations engagement report. Our in-house CPAs will prepare a compilations engagement report that includes a description of the procedures performed, a statement that the financial statements have not been audited or reviewed, and a statement that we do not express an opinion or assurance on the financial statements.

It is important to note that this is a complex task that requires specialized knowledge and expertise. If you are not someone already comfortable with churning numbers and using Excel Sheets to understand data/patterns, we recommend that you consult with a qualified accountant in Ontario, Canada, like Tangent Consulting Services.

When do you need an Notice to Reader (Compilation Engagement) Report?

Although a Notice to Reader (Compilations Engagement) report does not offer the same level of assurance as an audited or reviewed statement, it can still be useful for:

Providing annual reporting to owners or shareholders
Providing financial transparency
Filing income tax returns
Dealing with investors
Seeking a bank loan
Selling the business

Notice to Reader financial statements are often required for small businesses and startups, but they may not be sufficient for larger businesses or investors who require a higher level of assurance.

Why get your Notice to Readers (Compilations Engagement) Report from us?

At Tangent Consulting, we offer compilation engagement reports to help you present your financial statements in a clear and concise manner. Our team of experienced accountants will work with you to understand your business and operations, and then we will perform the necessary procedures to prepare a compilation engagement report that meets your specific needs and provides you with a reliable and accurate representation of your financial position. Here are some of the prominent benefits of working with Tangent Consulting:

We have a deep understanding of accounting standards.
We use a rigorous methodology to ensure that our reports are accurate and complete.
We are committed to providing our clients with the highest quality services.
We are professional, courteous, and responsive to your needs.

If you are looking for an accounting firm to prepare your compilation engagement report in Ontario, Canada, please contact us today. We would be happy to discuss your specific needs and provide you with a free quote.

Documents for a Notice to Readers Financial Statement

Your accountant will need the following documents from your business to prepare a Notice to Reader financial statement:

A trial balance for the end of your company’s fiscal year. This is a report that shows all of your company’s accounts and their balances.
A general ledger for the same reporting period. This is a detailed record of all of your company’s transactions.
Your business bank and credit card statements for the entire fiscal year.
A reconciliation report for each bank and credit card account. This is a report that shows that all of your transactions have been accounted for.
An accounts receivable aging report. This is a report that shows all of the amounts that your customers owe you.
An accounts payable aging report. This is a report that shows all of the amounts that you owe your vendors.
A fixed asset continuity schedule for the most recent fiscal year. This is a report that tracks all of your company’s capital assets and the depreciation that has been taken on them.

If you have any out-of-pocket expenses that you paid for with your personal money, you will also need to provide a summary of those expenses to your accountant. This will help to maximize your tax deductions.

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Why a One-Stop Accountant?

One-stop accountants like Tangent Consulting offer a wide range of financial services, from tax preparation and filing to business planning and consulting. This means that you can get all of your business accounting needs taken care of in one place, without having to worry about juggling between multiple different professionals.

Your one-stop accountant will be skilled and experienced to provide you with:

Personalized service: One-stop accountants in Ontario, like Tangent Consulting, offer a more personalized level of service than larger accounting firms. They will take the time to understand your individual needs and circumstances, and they will work with you to develop a notice to readers and compilations engagement report that meets your goals.
Affordability: In many cases, the money you save by using a one-stop accountant to prepare your Compilations Engagement and Notice to Readers Report will far outweigh the cost of their services.
Convenience: One-stop shop accountants can handle all of your financial needs, from start to finish. This can save you a lot of time and hassle, especially during the busy tax season.
Expertise: One-stop accountants have the knowledge and experience to help you collect all the information needed to make a Notice to Readers and Compilations Engagement Report with minimal hassle. They also have a firm grasp on how to interpret the findings of your report to help you make informed financial decisions.
Flexibility: Often more flexible due to the nature of their offered services, one-stop accounting providers can schedule appointments and meet deadlines according to your needs. This can be especially important if you are a busy professional or an entrepreneur/freelancer.
Peace of mind: Knowing that your compilation engagement report is from a qualified professional can give you peace of mind. You can relax and focus on other things, while your accountant takes care of all the details.

Why Choose us as your One-Stop Accountants?

Our (awesome) business accounting team specializes in providing practical and insightful recommendations to minimize your accouting burden and help you keep more of your hard-earned money. We believe in establishing proactive partnerships with our clients. This way, we can come up with effective strategies for planning your financial reports every year. We’re no strangers to dealing with the stress and financial strain that comes with high-value financial reports, and once you have signed your engagement letter with Tangent Consulting, a dedicated team of financial professionals has your back!

Our in-house business accounting experts actually look forward to diving into new sophisticated (some people call it complex) processes involved in making your notice to readers and compilations engagement report. We’ll handle everything from dealing with document requests from the Canada Revenue Agency (CRA) to full-on financial reports or tax audits of varying magnitude.

You will feel at ease and confident once your finances are in the good and capable hands of the Tangent Consulting team. Whether you’re a high net worth individual or an ambitious entrepreneur, get in touch with us today and let us help you with your notice to readers and compilations engagement report.