Financial Review Certificate

(To be used if no audit report is supplied by outside auditors)

Society financial records must be audited for the protection of both the treasurer and the Society. One of the following must be submitted:

  • Completed Financial Review Certificate with two signatures. Volunteer reviewers must not currently be on the Executive or Board; or related to one another; or related to the Treasurer.

or

  • Audit/Review Report (not a Compilation, also known as, Notice to Reader) that has been completed by a professional firm/individual (CA, CMA, CPA, CGA). Please send a copy of the Audit Report and retain the original for your files. This usually has only one signature.

Note: Compilations, also known as Notice to Readers, will no longer be acceptable as formats for reviews. If your financial statements are in this format, please also supply the Financial Review Certificate signed by the professional firm (one signature); or the two volunteer reviewers appointed by society.

We certify that the statements of receipts & disbursements and assets & liabilities of the_____________________ (Name of Society), for the fiscal year ended __________________, are correct, and that our examination of the books and records of the Society included tests to ensure:

  1. all cash receipts were correctly recorded;
  2. all recorded vouchers were accurate and authentic;
  3. all investment and similar assets which were reported actually exist.

Date ___________________________, 20______

Financial Reviewer _________________________

Signature ________________________________

Phone ___________________________________

Date ___________________________, 20______

Financial Reviewer _________________________

Signature ________________________________

Phone ___________________________________

Note: Financial Review and Review Certificate/Report must be completed before AGM.

Any officer, director or auditor of an organization who makes a false statement in any report or information required under the Agricultural and Horticultural Organizations Act is guilty of an offence and on conviction is liable to a fine of not more than $2000. R.S.O. 1990, c. A.9, s. 16.


For more information:
Toll Free: 1-877-424-1300
E-mail: ag.info.omafra@ontario.ca