Financial Statements
Accurate financials built for your purpose.
Whether you need financial statements for your bank, an investor, a buyer, or CRA compliance, the quality and credibility of your numbers matters. We prepare Notice to Reader (NTR) and Review Engagement financial statements in accordance with Canadian accounting standards — backed by clean, reconciled books.
Book Free Consultation
What We Offer
Who Is This For?
Why Choose Synergy
Lender-Ready Financials
Banks and credit unions require CPA-prepared financial statements for business lending decisions. We format your statements to meet lender requirements and explain your numbers clearly — improving your financing prospects.
CRA Compliance
Your T2 corporate tax return is built on your financial statements. When your books are clean and your statements are properly prepared, your T2 is filed accurately — reducing the risk of CRA reassessment.
Clean Books Year-Round
We don't just produce a year-end statement — we ensure your bookkeeping is reconciled throughout the year so there are no surprises. Monthly or quarterly bookkeeping packages available.
Business Decision Support
Beyond compliance, good financial statements reveal the health of your business — margins, cash flow trends, and working capital position. We walk you through what the numbers mean and what to do about them.
Frequently Asked Questions
What is the difference between a Notice to Reader and a Review Engagement?
A Notice to Reader (NTR), also known as a Compilation Engagement, is prepared based on information you provide. The accountant does not verify the information or provide any assurance. It is the most common type for small private corporations and satisfies most bank and CRA requirements. A Review Engagement provides limited assurance — the accountant performs analytical procedures and inquiries to ensure there are no material misstatements. Review Engagements are required by some lenders for larger loan amounts.
Do small businesses need audited financial statements?
Most private small businesses in Ontario do not require audited financial statements unless required by a specific lender, investor, or shareholder agreement. Audits are significantly more costly and time-intensive than NTR or review engagements. We advise on the appropriate level of engagement based on your specific requirements.
How often should I get financial statements prepared?
At minimum, every corporation needs annual financial statements to support its T2 tax return. If you have a bank loan with reporting covenants, you may be required to provide them quarterly or semi-annually. Many business owners also benefit from quarterly or monthly management financial statements to track performance throughout the year.
What records do you need from me to prepare financial statements?
We need your bank statements, credit card statements, loan statements, accounts receivable and payable records, payroll records, and any major receipts or invoices. If you use accounting software (QuickBooks, Xero, Wave), we can work directly from your file. If your bookkeeping needs to be caught up first, we offer bookkeeping services as part of the engagement.
Ready to get started?
Let's talk.
Book a free, no-obligation consultation with our team today.