Standardized Financial Statements: What this Means for You

By |2021-10-24T09:52:59+00:00May 29th, 2021|Accounting|

How we prepare your financial statements is changing soon. The Chartered Professional Accountants Organization of Canada is implementing standardized financial statements for year ends ending on or after December 14, 2021. Currently, financial statements are prepared as what’s called a Notice to Reader (NTR). This is sort of like a buyer beware in sales terms. Starting this December, accountants across Canada are required to prepare a compilation engagement when preparing financial statements. The change is CPA Canada’s way of standardizing financial statements while making sure they are accurate and not misleading. Here’s what you need to know. What are Standardized Financial [...]