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Advisory Services FAQs

Check below for most frequently asked questions

  • I am in the middle of a fee dispute with one of my clients. Where can I go for assistance?

    CPA Ontario provides a fees mediation service free of charge when fee disputes arise between CPAs and their clients. It can help the parties find solutions fairly and quickly. Either the CPA or the client can initiate the process but both parties must agree to the terms of the process. For more information on the process see Fees Mediation

  • What are the standard rates for assurance services? For tax services?

    CPA Ontario does not regulate rates or have fee guidelines. Market rates vary by the level of experience of the person performing the service, geographic location and the type of service provided.
  • Can I use the abbreviation PC instead of Professional Corporation in my company name?

    "Professional Corporation" cannot be abbreviated and must appear in full for an entity that is a Professional Corporation.
  • Who can sign reports attached to financial statements?

    Every firm should have policies and procedures in place to ensure that the final product released by the firm complies with all professional standards and has been signed off by a Chartered Professional Accountant. In addition, the lead engagement person for an assurance engagement (e.g. audit or review), must be a Licensed Public Accountant.
  • Can I send electronic financial statements to clients?

    Yes, but you must ensure that the appropriate safeguards are in place so that they cannot make changes to the statements. For example, financial statements sent in pdf format can be password protected to prevent unauthorized changes from being made. In addition, you must take steps to protect yourself from the unauthorized duplication and use of your professional letterhead and signature on the report.
  • I am a sole practitioner practising through a Professional Corporation, do I use I or we in professional communications?

    It doesn't matter whether a sole practitioner practises on his or her own, or through a Professional Corporation. Any communication should use the word “I” as this refers to the one individual who is ultimately responsible for the activities conducted by the practice.