
At the time of application my company will have just reached its fiscal year end, and audited financials will not be ready for a couple of months. Are we ineligible?
OMIF - Technical
Financial statements must be current and dated within six months of the applicant’s fiscal year-end.
- Internally prepared statements (profit & loss statement and balance sheet) will be accepted for applications requesting $15,000 or less.
- A compilation engagement report, review engagement or audited financial statements will be accepted for requests of more than $15,000.
- A compilation engagement report must be prepared and signed by an accountant who is a member in good standing of a provincial branch of the Chartered Professional Accountants (CPA).
- Review engagement or audited financial statements must be conducted by an independent public accountant who is a member in good standing of a provincial branch of the Chartered Professional Accountants (CPA).