Detailed Service Category: Compilations & Financial Reporting

Semi-Annual Reporting for Venture Issuers: What You Should Know

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Canada’s securities regulators are exploring a significant shift in financial reporting requirements for venture issuers. Through a newly proposed pilot program, eligible companies may be permitted to file financial reports twice a year instead of quarterly. For many early-stage public companies, particularly those with limited resources, the change could reduce… Read more

Review vs. Compilation vs. Audit: What’s the Right Level of Assurance for Your Business?

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You need financial statements, but which kind? Your bank’s asking for a review. Your bookkeeper says a compilation is enough. Someone else mentions an audit. What’s the difference? If you’re a business owner, especially of a growing small or medium-sized business, this situation might sound familiar. When stakeholders (e.g., lenders,… Read more

The 5 Most Important Financial Reports for Start-ups: What You Need to Know

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Start-ups often move quickly—developing products, raising capital, and chasing growth. But amid the excitement, it’s easy to overlook the numbers that truly reflect how your business is doing. Having a strong financial foundation isn’t just about keeping your books in order—it’s about gaining visibility, building credibility, and making informed decisions… Read more

Digital Platform Operators: How to Report Income from Uber, Airbnb, Etsy, and More

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The Canada Revenue Agency (CRA) has introduced new Reporting Rules for Digital Platform Operators to enhance transparency and promote international tax compliance. These rules ensure income earned through digital platforms is accurately reported, marking a significant shift for both platform operators and individuals earning income through these platforms. Overview of… Read more

Beyond the Balance Sheet: How to Identify and Value Intangible Assets

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Unlike tangible assets or assets that can be found directly on a company’s balance sheet, off-balance sheet intangible assets are sometimes tricky to identify, and even more difficult to value. Despite their less apparent nature, these assets are crucial for the successful operation of your business. Recognizing the significance of… Read more

Ask the Expert… What are financial ratios and how can they be used to improve my business?

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Financial ratios are evaluation tools that can help you understand your business’s performance and compare it with others in your industry. They measure the relationship between two sections of your financial statements, usually over several periods of time, and give you an assessment of your business’s health. By using these… Read more

Check Yourself: 5 Internal Controls You Should Have Implemented Yesterday

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UPDATE (February 7, 2025): This article has been updated to reflect changes in legislation, regulations, and accounting practices since the original date of publication (March 16, 2022). March is Fraud Prevention Month across Canada, and as we enter the busiest months of tax season, it’s the perfect time to reassess… Read more

Notice to Reader: There’s a new compilation standard in town

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The following article is a summarized version of the Compilation Engagements Management Briefing provided by Chartered Professional Accountants Canada. For the complete briefing, please visit CPA Canada. As CPA Canada recently shared, “Some things never change. But the compilation standard isn’t one of them.” After almost 35 years, the Auditing… Read more