6 Review Engagement Preparation tax and accounting engagements in full — what the client came to us with, what we did, and what it was worth. Each one is specific to review engagement preparation work, not a general example.
Case Study 1 · Cash and remittance control
$135,000 Of Working Capital Freed From The Tax Cycle — Business Applying for Government, Regina
Client: A business applying for government funding · Where: Regina, Saskatchewan · Engagement: 7 weeks, fixed fee
Working capital freed$135,000
On-time remittancesEvery period since
Forecast horizon13 weeks
The situation
A business applying for government funding in Regina, Saskatchewan was profitable on paper and short of cash every month. A bonding limit capped because the last statements were prepared on a cash basis explained most of the gap.
What we did
We upgraded the engagement to a CSRE 2400 review, completed the additional procedures, and delivered a package the lender accepted without conditions and built a thirteen-week cash view so tax payments stopped competing with payroll for the same dollars.
The result
$135,000 was released back into working capital. Remittances have been on time every period since, and the forecast shows the tax outflow before it lands.
Case Study 2 · Structure rebuilt
Corporate Structure Rebuilt For $48,000 Of Annual Savings — Corporation Entering a Shareholder, London
Client: A corporation entering a shareholder buyout · Where: London, Ontario · Engagement: 9 weeks, fixed fee
Saving per year$48,000
DocumentationComplete
Transfer basisRollover
The situation
The structure at a corporation entering a shareholder buyout in London, Ontario had been set up years earlier for a business that no longer existed, and a prior-year restatement with no note explaining what changed had become expensive.
What we did
We prepared a due-diligence-ready statement set with supporting schedules for each material balance. The reorganisation used the rollover provisions rather than a taxable transfer, so no tax fell due on the restructuring itself.
The result
$48,000 of annual saving, achieved on a tax-deferred basis. The minute book, elections and valuations are all in the file.
Case Study 3 · CRA review defended
Audit Defence Closed In 6 Weeks, $116,000 Cleared — Not-For-Profit with a Bylaw, Surrey
Client: A not-for-profit with a bylaw audit requirement · Where: Surrey, British Columbia · Engagement: 6 weeks, fixed fee
Proposed tax cleared$116,000
Review duration6 weeks
OutcomeNo change
The situation
A not-for-profit with a bylaw audit requirement in Surrey, British Columbia was selected for review after a buyer’s due-diligence list that the existing statement package could not answer showed up in the CRA's automated matching. The proposed adjustment on review engagement preparation came to $116,000.
What we did
We compressed the close to 45 days by moving reconciliations into the monthly cycle, so the covenant deadline stopped being a scramble. Every figure in the response traced to a source record the auditor could verify without asking a second question.
The result
The review closed with no change. $116,000 of proposed tax came off the table, and the documentation now in place makes the next review a short one.
Case Study 4 · Records and systems rebuilt
15 Months Reconciled And $11,500 Of Input Tax Recovered — Franchisee Reporting to Its, Ottawa
Client: A franchisee reporting to its franchisor · Where: Ottawa, Ontario · Engagement: 8 weeks, fixed fee
Months reconciled15
Input tax recovered$11,500
Close time10 days
The situation
A franchisee reporting to its franchisor in Ottawa, Ontario was carrying a bank asking for a review engagement while the file only supported a compilation. Nothing reconciled, and every filing started with 15 months of cleanup.
What we did
We rebuilt from source rather than correcting on top of the existing file. We converted the records to the accrual basis, restated the comparative year with proper disclosure, and rebuilt the statement package around the bonding company’s requirements, then set the routine that keeps it clean.
The result
15 months reconciled to the bank. The close now takes 10 days, and $11,500 of previously unclaimable input tax was recovered in the process.
Case Study 5 · Backlog brought current
Collections Halted And $72,000 Cut From A 4-Year Backlog — Co-Operative Reporting to Members, Vancouver
Client: A co-operative reporting to members · Where: Vancouver, British Columbia · Engagement: 10 weeks, fixed fee
Balance reduced by$72,000
Backlog cleared4 years
CollectionsHalted
The situation
By the time a co-operative reporting to members in Vancouver, British Columbia called, 4 years were outstanding and the CRA had assessed on estimates. Underneath it sat statements delivered five months after year-end, past the covenant deadline.
What we did
We reconstructed the records year by year and upgraded the engagement to a CSRE 2400 review, completed the additional procedures, and delivered a package the lender accepted without conditions. Each filing replaced an arbitrary assessment with a real one.
The result
The account is current. Filing on real numbers rather than CRA estimates reduced the balance by $72,000, and a relief application addressed part of the accumulated interest.
Case Study 6 · Scaling without breaking
Second-Province Expansion Handled, $120,000 Of Cash Released — Business Preparing for Sale, Lethbridge
Client: A business preparing for sale · Where: Lethbridge, Alberta · Engagement: 9 weeks, fixed fee
Cash released$120,000
New registrationsComplete on day one
Compliance gapsNone
The situation
Revenue at a business preparing for sale in Lethbridge, Alberta was up sharply and cash was tighter than ever. Underneath it sat a bonding limit capped because the last statements were prepared on a cash basis.
What we did
We prepared a due-diligence-ready statement set with supporting schedules for each material balance. Every new obligation — registration, remittance frequency, provincial filing — was set up before it was triggered, not after.
The result
$120,000 of cash was released from the working capital cycle, and the expansion completed with every registration and filing obligation covered from day one.
Reviewed for the 2025 tax year by Udit Gupta, Certified Tax Accountant. Figures describe representative engagements of this type; outcomes depend on your own facts. Client names and identifying details are omitted for confidentiality.
