Tax Preparation and Planning

We prepare annual tax and information returns for not-for-profits and charities as required by Canada Revenue Agency, including:

  • T2 Corporate Income Tax Return
  • T1044 Non-Profit Information Return
  • T3010-1 Registered Charity Information Return

Financial Statements

We provide the following financial statement preparation and assurance services for not-for-profits and charities:

Compilation Engagement (Notice to Reader)

We use the information provided by the organization to prepare the financial statements, but do not “review” or “audit” this information.

Review Engagement

We review the financial statements to establish that the statements are credible and not misleading. Also, we ascertain that nothing has come to our attention that would indicate the statements were not prepared in accordance with Canadian accounting standards.

Audit Engagement

In an audit engagement, we provide an independent and objective opinion that the financial statements fairly present the organization’s financial position, financial performance and its cash flows.

If the organization has no requirement for annual audited financial statements, a compilation or review engagement may be sufficient. Requirement for an audit is identified in an organization’s Charter or incorporation documents.  Also, a motion to require an audit may be approved by the general membership.  This would be stated in previous annual general meeting minutes and should be approved each year.

Other Services

Other services we provide to not-for-profit and charities are:

  • Review or audit of internal controls
  • Forensic audits
  • Feasibility studies
  • Accounting software setup and training

Contact the Not-for-Profit Services team:

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