Corporate Reporting Division

Which Canadian engagement type tends to fit a business like yours?

A short walkthrough of the four options — GIFI filing, Compilation, Review, and Audit — and how the choice usually lands based on who reads your financial statements, your size, and your situation.

Takes about two minutes. Six questions.

This is educational, not professional advice. It's a plain-English read of how a business's answers tend to map to engagement types in Canada. Your actual engagement is governed by your CPA's engagement-acceptance procedures and any contractual requirements you have — not by this tool.

First time seeing these terms? The companion article on fhblack.com explains each one in plain English: Compilation, Review, or Audit in Canada →

Step 1 of 2 Who your statements are for

Who reads your financial statements?

This is the question that drives most of the answer. Select all that apply.

Does an existing agreement specify what engagement you need?

Some loan agreements, investor term sheets, franchisor contracts, or funding agreements specify a required tier. If yours does, that's the floor.

Industry risk profile

Roughly, how closely does your industry attract outside scrutiny of the numbers. When unsure, pick medium.

Step 2 of 2 Your size & complexity

These three questions fine-tune the answer — your stakeholder situation from step 1 does most of the real work.

Annual revenue

Your corporation's gross revenue for your most recent fiscal year.

Transaction volume (typical month)

Individual transactions — sales, purchases, transfers — through your books in a typical month. Estimate if unsure.

Net income, most recent year

Profit (or loss) from your most recent fiscal year, before income taxes.

Almost there One more step

Where should we send your results?

We'll show the fit on-screen and send you a copy so you can revisit it or share it with your team.

Name

Work email

Company

Phone (optional)

Biggest question about your year-end (optional)

I consent to F.H. Black & Company storing this submission and contacting me about it. I understand I can request deletion at any time. * Optional: send me FHB's periodic email on financial reporting, controllership, and Canadian small-business accounting.

We retain inquiry information for 12 months unless you ask us to delete it sooner. We don't share your data with third parties.

Your fit Complete

This is educational, not professional advice. It's not a substitute for your CPA's engagement-acceptance procedures, and it doesn't override any specific requirements in your contracts. If a loan covenant, investor agreement, franchisor contract, or funding agreement specifies a tier, that governs regardless of what this tool shows.

Want a second opinion? Book a 15-minute call with Joel — no sales pitch, just the real answer on whether this fit holds up for your specific situation.

Let's talk it through. Book a 15-minute consultation with Joel. We'll confirm what you actually need, point you toward the right fit, and look at whether FHB can help on a consulting, controllership, or HR/EAD basis.

Heads up: you weren't sure whether any existing agreement specifies a tier. Before finalizing, check your loan, lease, and investor agreements — some specify a required tier and that would override the fit shown above.

This tool is a plain-English walkthrough of Canadian engagement types and what tends to trigger each. It's not a professional opinion, not an engagement acceptance, and not a substitute for a specific conversation with a CPA. Ranges and framings reflect common practice; your situation may vary.