Preparing An Audit

NOTE: If the production was submitted to theAlberta Production Grant (APG) in 2006 or prior, please consult the Grants Administrator for information on preparing Audits, Review Engagements and Production Cost reports.

For all recent grants the following audit requirements stand:

1) For productions with Final Costs of $500,000 or more:

  • An Audited Production Cost Statement prepared according to Canadian Generally Accepted Accounting Principles and audited according to Canadian Generally Accepted Auditing Standards.

The following must be included as a schedule or note to the Production Cost Statement:

a) A final, detailed breakdown of all Eligible Alberta Costs and all other expenses related to the Production.

Eligible Alberta Costs worksheet

b) A list of all Albertans in Key Creative Positions. The list must include, for each Key Creative Position, the name of the Albertan, the position occupied and the dollar amount paid. For trainee credits, see Credit and Promotion Deliverables.

2) For productions with Final Costs equal to or less than $500,000 but more than $200,000:

  • A Review Engagement on a Production Cost Statement prepared according to Canadian Generally Accepted Accounting Principles and reviewed according to Canadian Generally Accepted Auditing Standards applicable to a Review Engagement.

The following must be included as a schedule or note to the Production Cost Statement:

a) A final, detailed breakdown of all Eligible Alberta Costs and all other expenses related to the Production.

Eligible Alberta Costs worksheet

b) A list of all Albertans in Key Creative Positions. The list must include, for each Key Creative Position, the name of the Albertan, the position occupied and the dollar amount paid.

3) For productions with final costs less than $200,000:

The following must be included as a schedule or note to the Production Cost Report:

a) A final, detailed breakdown of all Eligible Alberta Costs and all other expenses related to the Production.

Eligible Alberta Costs worksheet

b) A list of all Albertans in Key Creative Positions. The list must include, for each Key Creative Position, the name of the Albertan, the position occupied and the dollar amount paid.

Note: Stream II projects have the option of reporting against the Alberta final costs portion of the project only.

Last reviewed/revised: May 9, 2012