Notice to Reader

What Does a Notice to Reader Include?

A Notice to Reader compilation prepared by Nguyen Scott LLP includes a Balance Sheet (Statement of Financial Position), Income Statement (Statement of Earnings), Statement of Retained Earnings, and comparative figures from the prior year so you can analyze your business trends. We also provide a detailed management letter outlining upcoming tax liabilities, filing responsibilities, and any concerns identified during the compilation process.

When Is a Notice to Reader Used?

A Notice to Reader is appropriate for most Alberta small businesses seeking financing at lower lending amounts, maintaining annual records for internal management and shareholder review, presenting financial information to a commercial landlord or supplier, or supporting corporate tax planning decisions. If your bank or lender requires a higher level of assurance, a Review Engagement may be more appropriate.

Notice to Reader vs. Review vs. Audit

A Notice to Reader (compilation) provides no assurance — the CPA compiles the statements from information you provide without performing verification procedures. A Review provides limited assurance through analytical procedures and inquiries. An Audit provides the highest level of assurance through detailed testing and verification. Most Alberta small businesses require only a compilation for routine financing and management purposes.

Contact Nguyen Scott LLP to discuss which level of financial statement is right for your business. Call 780-458-5479 or Get In Touch Here.