
Compilation vs. Review vs. Audit: Which Financial Statements Do You Need?
Compilation vs. review vs. audit: how the three Canadian engagements differ in assurance, cost and timing, and who requires each one in Ontario.
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In Ontario, only a Licensed Public Accountant can sign audit and review engagement reports. Manraj Chahal holds that licence, regulated by CPA Ontario and the Public Accountants Council, and personally leads every assurance engagement.
Whether your lender, board, funder or grant program requires it, we deliver an independent, well-documented engagement on time.

Our process
We assess risk, confirm independence and agree on scope, timing and a fixed fee.
We test controls and balances with minimal disruption to your team.
We discuss any adjustments and observations with management before reporting.
We issue the signed report and present to your board or audit committee if required.
FAQ
Most private corporations do not legally require an audit. Audits are usually triggered by lender covenants, shareholder agreements, funder requirements or non-profit legislation. We help you confirm what is actually required.
A Licensed Public Accountant is a CPA licensed by CPA Ontario under the Public Accounting Act, 2004 to provide audit and review engagements to the public in Ontario.
Yes. We audit non-profits and registered charities and can help with the T3010 information return.
Further reading

Compilation vs. review vs. audit: how the three Canadian engagements differ in assurance, cost and timing, and who requires each one in Ontario.
Read article
Free consultation
Book a free 15-minute consultation about Audit & Assurance. We will confirm what you need and quote a fixed fee before any work begins.