Year end planning
Notice to Reader is gone: what a compilation engagement means for you
Quick answer
Notice to Reader statements were replaced by compilation engagements under CSRS 4200 for periods ending on or after December 14, 2021. A compilation engagement provides no assurance but now includes clearer engagement and disclosure requirements.
Key takeaways
- The engagement name changed, but it still provides no assurance.
- The CPA needs an understanding of the business and intended use.
- An engagement letter and accounting basis note are important parts of the process.
What has changed
The updated standard formalized requirements around accepting the engagement, understanding the business and communicating the basis of accounting.
What has not changed
A compilation is not a review or an audit. It does not provide assurance for users of the financial statements.
How to prepare
Keep the books current, gather year end records and confirm how the financial statements will be used before the engagement begins.
Need a conversation, not another tab?
Compilation engagements, Calgary
GDPC is a Calgary CPA firm in practice since 2009. Let’s connect this question to the financial work that comes next for your corporation.
Explore the serviceSources & review
Reviewed by Gurjinder Dhillon, CPA, CGA, MBA. Check current primary guidance before acting on filing dates or tax questions: Canada Revenue Agency (opens in new tab) and WCB Alberta (opens in new tab).
Last updated December 14, 2026