The ideal accountant for your audit

An audit is an independent and rigorous review of your financial statements, often required by a bank, an investor, a lender, or an organization’s bylaws. Depending on your needs, these services are referred to as audit engagements, review engagements, or compilation engagements: three levels of assurance that build confidence in your financials and open doors, from securing financing to winning bids.

With Bankeo, you can find the ideal accountant for this assignment, for free: the right match, qualified for the level of assurance you need, not just a number. We’ll introduce you to as many candidates as you need and support you every step of the way. You never pay Bankeo; the fees are the accountant’s, and you pay them directly.

Three key points to keep in mind for 2026: an audit engagement provides reasonable assurance in accordance with Canadian Auditing Standards (CAS), a review engagement provides moderate assurance (CAS 2400), and a compilation engagement provides no assurance (CSA 4200). At the federal level, a nonprofit organization that engages in fundraising must have its financial statements audited as soon as its gross annual revenue exceeds $250,000. And for a corporation, both the T2 return (federal) and the CO-17 form (Quebec) must be filed within 6 months of the end of the fiscal year: reliable and timely financial statements form the basis of the entire timeline.

• Audit engagement with an auditor’s opinion (reasonable assurance, NCA standards)
• Review Engagement of Financial Statements (Moderate Assurance, NCME 2400)
• Compilation Engagement with a Professional’s Report (NCSC 4200)
• Internal Control Assessment and Risk Mapping
• Verification of sensitive accounts: revenue, inventory, accounts receivable
• Practical Recommendations for Improving the Reliability of Your Financial Processes
• Financial statements that meet the requirements of banks, investors, and lenders
• Help choosing the right level of coverage so you don’t overpay

In Quebec, assurance engagements (audits and reviews) are reserved for licensed professionals regulated by the Ordre des CPA du Québec. Choosing the right level, audit, review, or compilation, depends on what your clients require: there’s no point in paying for more assurance than necessary. The timeline also matters: the T2 and CO-17 forms must be filed within 6 months of the end of the fiscal year, and a late filing alone results, as far as the Canada Revenue Agency is concerned, a penalty of 5% of the unpaid tax, plus 1% for each full month of delay, up to 12 months.

Credibility is key: reliable financial statements open doors, whether it’s for financing, a bid, or the trust of your partners. The accountant you find through Bankeo will carry out the engagement with meticulous care, provide you with a report that your bankers recognize, and remain by your side for whatever comes next.

Not always. Depending on the requirements of your bank, your investors, or your articles of incorporation, a review engagement (moderate assurance) or a compilation engagement may be sufficient, at a fraction of the cost. An accountant can help you choose the right level of service without overpaying.

Assurance engagements (audits and reviews) are performed by licensed professionals regulated by the Ordre des CPA du Québec. We match you with a vetted accountant who is qualified to meet your specific needs.

Generally, you can expect the process to take anywhere from a few weeks to two or three months from the start of the work to the delivery of the report, depending on the size of your business and the condition of your records. A well-prepared file, with up-to-date reconciliations and organized supporting documents, significantly shortens the turnaround time. Also keep the tax calendar in mind: the T2 and CO-17 forms are due within 6 months of the end of the fiscal year.

The three most common mistakes: waiting until the last minute, paying for a higher level of assurance than your partner actually requires, and arriving with unreconsiled books, with each hour spent getting them in order billed separately. First, clarify the exact requirements of your bank or lender, then prepare your supporting documents: the accountant will guide you from the start.

The Bankeo matching service is free for you, with no hidden fees: you pay only your accountant’s fees, directly to them, and you compare proposals before making a decision, with no obligation. Bankeo is funded by the accountants in its network through a fee per file, an amount known in advance. Price guidelines: The Bankeo Fee Barometer.