Our accounting and audit services are specifically tailored to regulatory and credit requirements for small and medium size owner managed businesses. These include the following services:

Notice to Reader (compilation of financial statements)

Compiled statements (with a Notice to Reader report) minimize cost to the small business owner. We take records prepared by the business and put them into a financial statement format including a balance sheet, income statement, and supplementary notes to financial statements. As part of this service, we optimize the business owner’s tax plan between the company and their family’s individual tax situation.

Who needs these services and why?

The small business owner with minimal debt, individual or family shareholders, and wanting to minimize the cost of accounting services will get Notice to Reader financial statements to comply with their corporate tax filing obligations.

Review Engagement Report (limited assurance)

Reviewed statements are prepared on a negative assurance basis. The statements are in the format of Generally Accepted Accounting Principles, however, they are not audited. We perform an analytical review of your numbers, inquire about their accuracy, and conclude based on the outcome of these procedures.

Who needs these services and why?

Review engagements are typically required in situations where moderate amounts of debt financing are needed to operate the business and the bank requires it, if there are inactive shareholders unrelated to the management team who want some comfort over the numbers, or often construction bonding companies will require reviewed statements.

Audit Report

Audited financial statements are the highest level of assurance that a company, non-profit organization, or charity can have prepared for their shareholders or stakeholders. In an audit, our firm will obtain sufficient and appropriate audit evidence to arrive at a conclusion as to whether or not the financial statements are fairly stated in accordance with Generally Accepted Accounting Principles. To get to this point, we will obtain an understanding of internal controls, make inquiries of management and stakeholders, and review the underlying records of the company.

Who needs these services and why?

Audited financial statements are most commonly required for charities and non-profit organizations who receive grants from organizations that require audited statements. Additionally, the legislation under which charities and non-profit corporations are governed require review engagement reports or audit reports for most charities and non-profits. Private companies may require audited statements as well where there are inactive shareholders unrelated to management or where there is a large amount of debt financing.

Who do we work with?

We're business accountants that help small and medium sized businesses and we also do work with non-profits and charitable organisations.

See if your company is a fit

You need a professional accounting firm if you want to grow your business in a controlled and predictable manner.

You need a system to track your assets, liabilities, and revenue so you can make the right decisions for your company's future.

You need Racolta Jensen LLP!

Over 100 years of Accounting & Tax Expertise working for you!

About Us

Our goal is to allow each business and individual the ability to reach their goal of maximizing net profit and pay the least amount of taxes. We are also dedicated to our community both with financial support and volunteering our time.

Learn More About Us

Contact Us

Racolta Jensen LLP

485 Pinebush Road, Suite 304
Cambridge, Ontario
N1T 0A6

Phone: (519) 622-1485

Fax: (519) 622-1185

Hours: Monday - Friday 8:30 - 5:00

Located close to the 401

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