What do financial statements cost

Ask the lender which level before buying one

Compilation and financial statements start at $1,750 at HBT. That is a compilation engagement, which presents information supplied by management and provides no assurance. Whether it is enough depends on what the lender or other user requires.

Where a lender, buyer or regulator needs a review or an audit instead, the cost rises materially and for good reason. Confirm which level is actually required before commissioning anything, because buying an audit when a compilation satisfies the requirement is expensive.

What drives the figure

How the work begins

1. 1

   Step 1: Confirm the requirement

   Ask the lender in writing which level they need.

2. 2

   Step 2: Scope and price agreed

   In writing, with responsibilities stated, before preparation.

3. 3

   Step 3: Delivered and explained

   The statements prepared and the limits of the engagement explained.

How much do financial statements cost in Canada?

At HBT Accounting compilation and financial statements start at $1,750 plus GST or HST where it applies, and a corporate year end with the T2 return starts at $2,500. A compilation provides no assurance, so whether it is enough depends on what the lender requires. A review or an audit costs materially more, so confirm which level the lender actually needs first.