This service code includes examination services for the accounting records and other supporting evidence of an organization for the purpose of expressing an opinion as to whether the financial statements of the organization present its position fairly and accurately as at a given date and the results of its operations for the period ending on that date, in accordance with generally accepted accounting principles.

This service code does not include:

- accounting review services, cf. 998222

- management audits, cf. 998311

This service code includes

i. reviewing annual and interim financial statements and other accounting information. The scope of a review is less than that of an audit, and the level of assurance provided is thus lower;

ii. compilation of financial statements from information provided by the client. No assurances regarding the accuracy of the resulting statements are provided;

iii. preparation of business tax returns, when provided as a package with the preparation of financial statements for a single fee are classified here;

iv. compilation of income statements, balance sheets, etc;

v. analysis of balance sheets, etc; other accounting services such as attestations, valuations, preparation of pro forma statements, etc.;

vi. classifying and recording business transactions in terms of money or some unit of measurement in the books of account;

vii. similar services provided by accountants.

This service code does not include:

- financial auditing services, cf. 998221

- tax preparation services, when provided as separate services, cf. 99823

- bookkeeping services related to tax returns cf. 99823

- payroll services, including payroll computation and ledgers, cf. 998223

This service code includes

i. payroll processing, including on-line;

ii. direct deposit or cheque preparation services;

iii. remission of taxes and other deductions;

iv. preparation, viewing and storage of payroll ledgers, reports and other documents

This service code does not include:

- bookkeeping services, cf. 998222

- payroll processing provided as part of a bundle of management services, cf. 998311