Our experienced professionals provide our assurance services by obtaining a required knowledge of your business and the systems that are used to control its financial processes.
We strive to provide added value to our assurance services by working with you and your management to improve processes not only for financial purposes but also to achieve other strategic goals. It is our ability to consider all of the different influences on your operations that we can deliver on being a partner on improving your enterprise.
Our firm provides three levels of service in association with financial statements:
- an audit;
- a review; and
- compilation engagement.
Each of the above services lends different levels of assurance to the financial statements depending on the nature of involvement and requires a different level of documentation and analysis. These different requirements drives the noticeable differences in the cost of each service.
- An audit gives an opinion whether the financial statements are fairly presented.
- A review relies more on discussion and analysis to justify its report on the financial statements compared to an audit which requires more third party confirmation and verification to supporting documentation.
- Both an audited and a review engagement financial statement are required to meet Canadian Generally Accepted Accounting Principles.
- A compilation provides no assurance. The accountant compiles the financial statements from information provided by management without attempting to verify the accuracy or completeness of such information.