// FST · FILE · 04—S

Financial Statements.

Compilations, reviews, and audit-grade statements written for the readers who matter — lenders, boards, regulators, successors.

// 05 / 08

// Principle

A statement that survives a careful reading is the only statement worth issuing.

// FST · House view

// 01 — Substance

What is included
in the file.

Financial statements are read closely by people who decide whether to lend, to invest, or to renew. We prepare them under ASPE, IFRS, or ASNPO — with disclosure that is generous where it must be and quiet where it should be. The statements that leave the practice are the statements we would lend against ourselves.

01 / FST

Compilation engagements

NOCLAR-aware compilations with disclosed basis of accounting and management acknowledgements.

02 / FST

Review engagements

CSRE 2400 reviews providing limited assurance, suitable for most lender and shareholder uses.

03 / FST

Audit-grade statements

Through our network for files requiring an audit opinion — co-led, never handed off blindly.

04 / FST

ASPE & IFRS

Either framework, including transitions between the two and first-time adoption notes.

05 / FST

Not-for-profit

ASNPO-compliant statements, fund accounting, and the disclosures that grant-makers expect.

06 / FST

Bank-package preparation

Covenant calculations, ratio decks, and the supplementary schedules lenders ask for after.

// 02 — Method

Four movements
in the work.

Each financial statements engagement runs on the same four-part rhythm. The cadence is the discipline.

// 01

Scope

A written engagement letter setting standard, period, and the readers we are writing for.

// 02

Field

Bookkeeping reviewed, accruals confirmed, supporting documents archived to the working file.

// 03

Draft

Statements prepared with notes written in plain English — no boilerplate left unexamined.

// 04

Issue

Final review, partner sign-off, and a closing meeting before the file is delivered.

// 03 — Whom we serve

Engagements written for —

// 01

Privately held companies

Owner-managed firms whose statements support tax filings, lender renewals, and shareholder reporting.

// 02

Borrowers under covenants

Companies whose loan agreements require periodic reviewed or audited statements with covenant calculations.

// 03

Charities & foundations

Organisations filing T3010 or registering with provincial regulators under ASNPO.

// 04 — Common questions

Asked & answered.

Compilation, review, or audit — how do I choose?

Choose the level your readers actually need. We will recommend the lowest standard that satisfies the obligation, not the highest we can charge for.

Do you issue audited statements?

Yes, in partnership with a licensed audit firm we have worked with for fifteen years.

Will you also file the corporate return?

Almost always — see Corporate Taxes. The two documents are intentionally aligned.

How long does an engagement take?

A clean review typically four to six weeks from year-end; an audit longer.

// Related disciplines

A short conversation costs nothing.

Thirty unhurried minutes with a partner. We will listen carefully and tell you, quite plainly, whether we are the right people for the work in front of you.

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