Notice to Reader Financial Statements
Trusted by Business Owners Across Toronto
This Service Is For You If…
- Your bank asked for "Compilation Engagement." No idea what that means.
- Your loan got rejected. Bank said your financials weren't good enough.
- You're selling your business. Buyers want unaudited statements.
- Your bookkeeper is great. But they can't sign what your lender needs.
Our Notice to Reader Services
Notice to Reader accounting services prepared by a CPA. Accepted by banks, lenders, and investors across Ontario.
Financial Statement Preparation
- Balance sheet (assets, liabilities, equity)
- Income statement (revenue & expenses)
- Statement of retained earnings
- Notes to financial statements
- Compilation engagement report
Corporate Tax Filing
- T2 corporate tax return in GIFI format
- HST/GST reconciliation
- Tax liability review before finalizing
Lender-Ready Package
- Statements formatted for bank submission
- Supporting schedules for loans and fixed assets
- Shareholder account reconciliation
Multi-Entity & Cross-Border
- Holding company and subsidiary statements
- Intercompany transactions reconciliation
- Canadian corps with US revenue
Need Other Services?
How We Prepare Your NTR
From your first call to signed statements, here’s what our CPA does for you.
1. Free NTR Call
We review your situation, confirm what your lender actually needs, and tell you exactly what documents to gather. No confusion.
2. Document Collection
We get your QuickBooks or Xero file, bank statements, loan documents, and shareholder records. If your books are messy, we clean them up first.
3. Statements Delivered
We prepare your Notice to Reader financial statements, sign them, and send you lender-ready PDFs. You submit to your bank.
Why Business Owners Choose SAL?
CPA-Signed
Banks require it. We provide it. Only a licensed CPA can issue a compilation engagement report your lender will accept.
Quick Turnaround
Loan deadlines don't wait. We prepare your Notice to Reader statements in 3 weeks so you don't miss your funding window.
Lender-Ready
Balance sheet, income statement, and notes formatted exactly how banks want. No back-and-forth, no rejections.
Our Client Stories
See What Business Owners Say
Get Your Statements Today
Talk with our CPA in Toronto and get the financial statements you need for your bank loan.
What is a Notice to Reader financial statement?
A Notice to Reader (NTR) is a financial statement prepared by a CPA without audit or verification. The CPA compiles your numbers into proper format but doesn’t verify them. Banks accept Notice to Reader financial statements Canada for most small business loans. It’s the most affordable CPA-prepared financial statement you can get.
What does NTR mean in accounting?
NTR stands for Notice to Reader. It’s a financial statement prepared by a CPA without audit or review procedures. When your bank asks for “NTR financials,” they want CPA-prepared financial statements.
What is the purpose of the Notice to Reader?
To give banks, lenders, and investors a clear picture of your finances prepared by a professional. Notice to Reader statements are used for bank loans, lines of credit, selling a business, or bringing in investors.
Who can prepare Notice to Reader financial statements in Canada?
Only a licensed CPA. Under Notice to Reader CPA Ontario and CPA Canada rules, bookkeepers and unlicensed accountants cannot issue NTR statements. If your bank asks for “CPA-prepared financial statements,” a CPA must sign them.
Can a non-CPA issue Notice to the Reader?
No. A non-CPA cannot issue a Notice to Reader report in Canada. Your bookkeeper can prepare your books, but the NTR must be signed by a licensed CPA. Someone without a CPA designation offering NTR services is a red flag.
What is the difference between Notice to Reader vs compilation engagement?
Same thing, different name. “Notice to Reader” was the old name under Notice to Reader CPA Canada’s Section 9200. The new name is “compilation engagement” under CSRS 4200. Most people still say Notice to Reader or NTR.
When did Notice to Reader change to compilation engagement?
December 14, 2021. That’s when CSRS 4200 replaced Section 9200. The old “Notice to Reader” became “Compilation Engagement Report.” The service is identical.
What is the difference between Notice to Reader vs Review engagement?
Notice to Reader means no assurance. The CPA compiles your numbers but doesn’t verify them. Review engagement means limited assurance. The CPA checks if numbers are credible through analytical procedures. Reviews cost more. Most private businesses only need NTR.
What is the difference between audit, review engagement, and Notice to Reader?
Three levels. NTR (compilation) means no assurance, CPA just compiles. Review means limited assurance, CPA checks plausibility. Audit means reasonable assurance, CPA tests and verifies everything. Most small businesses need NTR. Reviews for larger loans. Audits for public companies.
What is NTR in Canada?
Notice to Reader financial statements. The most common CPA-prepared statements for private Canadian businesses. Banks accept NTR for most small business loans. More affordable than review or audit.
How to prepare a Notice to Reader?
You don’t. A CPA does. Get your bookkeeping current, then provide your CPA with bank statements, loan documents, and shareholder records. The CPA compiles everything, adds required notes, and signs the Notice to Reader report. You get lender-ready PDFs.
What does a sample Notice to Reader financial statement include?
Balance sheet, income statement, statement of retained earnings, and notes. The notes explain the basis of accounting (usually ASPE for private Canadian businesses). The CPA attaches a compilation engagement report explaining what they did.
Do I need Notice to Reader statements for a bank loan?
Depends on loan size. Smaller loans might only need tax returns. Larger loans, lines of credit, or Canada Small Business Financing Program (CSBFP) loans typically require NTR statements signed by a CPA. Ask your lender first.
Can you prepare NTR for a business with US operations?
Yes. If your Canadian corporation has US revenue, a US subsidiary, or a US LLC, we handle foreign currency translation and proper disclosure. Our cross-border accountants do Notice to Reader accounting for these businesses regularly.
What is "notice of readiness" vs "bill of lading"?
Different thing entirely. Those are shipping terms. Notice of readiness means a ship is ready to load. Bill of lading is a shipping document.
How much do Notice to Reader statements cost?
Affordable Notice to Reader services start at $4,000. Single corporation with clean books costs less than multi-entity structures. Book a free call for exact pricing.
Do I need a Notice to Reader CPA near me?
No. Notice to Reader accounting is done remotely. We collect documents through secure file sharing and deliver signed PDFs. SAL Accounting is in Toronto, minutes from the CN Tower, but we serve business owners across Ontario.
