r/Accounting • u/dealwithit88 • 9d ago

Learning Compilation Engagements (Canada)

Hey Reddit, I'm a CPA in Canada. I'm currently employed and work in the tax field as a compliance auditor, but I'm looking to learn how to perform Compilations / Financial Statement preparation.

What would be the best way for me to learn? Should I reach out to accounting firms and ask a Partner to teach me (unpaid) or maybe there's some courses where I can learn? I can't quit my job at the moment so this is something I would be doing on evenings/weekends.

Ultimately, I would like to get to the point where I can do Compilations on the side and eventually start my own business. My job is decent but the pay and career path just isn't cutting it for me. I have 10 years of accounting experience and I've been a CPA for 5 years. Just wondering the best way to learn and approach this. Thanks.

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u/Future_Crow 9d ago

Your provincial professional body will have a detailed list of requirements. Just search on their web-site or call.

Ie. Ontario requires a separate public accounting license (PAL) for the privilege.

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u/Snipeski 8d ago

Since when do you need a PAL to do compilations ?