The purpose of a Compilation Engagement is to organize financial information provided by the client into financial statements that are accurate and not misleading.

The CPA is not responsible for examining or reviewing this information. It is important to note that compilation engagements are different from assurance engagements, as they do not provide assurance about the accuracy and completeness of the financial information provided by management.

However, the CPA is still required to adhere to CPA Canada's professional standards outlined in 'Canadian Standards on Related Services 4200' (CSRS 4200) when conducting a compilation engagement.

A compilation engagement is suitable in circumstances where the client and other users do not require financial information that is fully compliant with generally accepted accounting principles, audit or review assurance is not needed, and the client understands that the statements may not be suitable for general use.

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