Notice to Reader Financial Statements

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Notice to Reader Financial Statements
https//www.maroofhs.com/compilation-of-financial-
statements-notice-to-reader/
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What is notice to reader financial statements?
Financial statements of a business show the
financial position and performance of that
business over a certain period.
Generally, there are three financial statements
1. Balance sheet Also knows a statement of
financial position 2. Income Statement Also
knows as a statement of financial performance 3.
Cash flow statement
Notes are often attached with these financial
statements, however, if you are a small business
the management may decide to not prepare them. In
all cases, a balance sheet and an income
statement must be attached. Notice-to-reader
refers to a notice, signed by a registered CPA
firm, cautions the readers of these financial
statements about the level of involvement of the
professional accounting firm. Further, you can
use either Accounting standards for private
enterprises (ASPE), or International Financial
Reporting Standards (IFRS) in Canada.
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Read more about Notice-to-Reader Financial
Statements here.
Who can issue Notice-to-reader in Canada?
While anyone can prepare financial statements but
only a professional accounting firm (CPA firm)
can issue notice-to-reader financial
statements. In Canada, provincial CPA bodies
regulate the accounting profession. When it comes
to Notice-to-reader financial statements or
Compilation of financial statements, only the
accounting firms registered with those provincial
CPA bodies can issue such statements. If your
bookkeeper or even a Chartered accountant who
does not work through a CPA firm, has issued you
a notice-to-reader, there are chances your bank
or other users may not accept them. Provincial
regulations require that Chartered Accountants
(CA Maroof HS CPA Professional Corporation is a
CPA firm in Toronto and registered with CPA
Ontario and Alberta in Canada. If you are looking
for notice-to-reader financial statements by a
CPA firm, you can get in touch with us at
www.maroofhs.com or call us [phone].
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You can reach us at 3-100 Hanlan Road,
Woodbridge, ON L4L 4V8 Phone [phone] Emai
l Canada_at_MaroofHS.com https//www.maroofhs.com/c
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