Accounting & Tax Insights for Canadians

What’s the Difference Between an Audit, a Review, and a Compilation?

Financial statements are a fundamental part of running a business, but not all financial reporting is created equal. Depending on your goals, obligations, or stakeholders, you might need an audit, a review, or a compilation. These terms are often used interchangeably, but they each serve a different purpose and provide varying levels of assurance. Understanding… Continue reading What’s the Difference Between an Audit, a Review, and a Compilation?