Non-Profit Audit Firms in Ontario

Non-Profit Legislation in Ontario

Non-profit organizations in Ontario are primarily governed by Ontario Not-for-Profit Corporations Act (ONCA), as well as the federal Canada Not-for-profit Corporations Act (CNCA) for federally incorporated organizations. Registered charities are also subject to the Income Tax Act and CRA oversight.

Audit Requirements in Ontario

Ontario has the largest non-profit sector in Canada. ONCA (in force since October 2021) replaced the previous Ontario Corporations Act for non-profit corporations. Under ONCA, non-profits with annual revenues over $100,000 must have a review engagement, and those with revenues over $500,000 must have a full audit — unless members vote to exempt the requirement. Ontario non-profits should also be familiar with the Ontario Nonprofit Network (ONN), which provides sector resources. The Ontario government funds many non-profits through its Transfer Payment Ontario system, which has its own audit and accountability requirements.

Cities in Ontario

Non-profit audit services are available across Ontario's major cities:

• Toronto
• Ottawa
• Mississauga
• Hamilton
• London
• Kitchener
• Windsor

What to Look for in a Non-Profit Auditor in Ontario

When selecting a non-profit audit firm in Ontario:

• ASNPO experience — confirm the firm regularly audits non-profits under ASNPO, not just for-profit businesses using ASPE or IFRS
• T3010 knowledge — if you are a registered charity, the auditor should be familiar with T3010 reporting and its relationship to the financial statements
• Grant audit experience — if you receive government grants, ask about experience with funder-specific audit requirements
• Sector-specific clients — ask whether the firm audits similar organizations (social services, arts, religious, healthcare) for relevant experience
• Independence — the firm cannot also provide bookkeeping or accounting services to an organization it audits

Typical Costs in Ontario

Non-profit audit costs in Ontario typically range:

• Small organizations (under $500k revenue): $5,000–$12,000
• Mid-size organizations ($500k–$5M revenue): $10,000–$30,000
• Large organizations ($5M+ revenue): $25,000–$100,000+

Costs depend on the number of restricted funds, grant programs with separate reporting, locations, and the quality of your accounting records. Organizations with clean, well-maintained records and accurate prior-year comparative figures typically pay less.

Federal Charities in Ontario

Registered charities in Ontario must file the T3010 annually with the CRA by six months after their fiscal year-end. CRA monitors T3010 filings and may flag charities for compliance review if their charitable disbursement ratios appear low, if their expenditures seem inconsistent with their charitable purposes, or if their financial statements contain unusual items. An experienced non-profit auditor can help ensure your T3010 disclosures are accurate and your financial statements support them.