Accounting & Financial Statements
Review & compilation engagements
Review & Compilation (Notice to Reader) Engagements
Get professional assistance for your financial statements, and get the clarity you require to move forward. We maximize strong industry knowledge and in-depth business insights to make intelligent assessments for our clients.
What to Expect
Purpose: to review financial statements to determine whether they are believable and to determine if the information is not materially in accordance with an appropriate basis of accounting, such as Accounting Standards for Private Enterprises (ASPE). Many financial institutions require their borrowers to have annual financial statements prepared on the ASPE basis.
Requirements: Financial statements prepared on this basis require a more detailed review of the business records. It requires analytical procedures, discussions with the appropriate officers of the organization and inquiries concerning the financial, operating and contractual information.
Compilation / Notice to Reader (NTR) Engagements
Purpose: to collect, classify, and report financial information, usually prepared for internal use and in filing income tax returns.
Reminder to Client: Preparation of financial statements on this basis does not provide any assurance that the statements are produced from records prepared in accordance with generally accepted accounting principles. While it is not required to verify the accuracy or completeness of the information presented, PLB CGA must be satisfied that it is not false or misleading. In fact, the report accompanying these statements states that they may not meet the needs of the reader.