Our customized bookkeeping and year-end services include:
While internal audits can provide an element of financial assurance, there are other facets as well. Assurance aims to help establish a company’s financial position whereas an internal audit is done to ensure that all the right standards, policies, and procedures are in place and followed to ensure regulatory compliance and best practices. We offer internal audit services as well as other assurance services. The required level of assurance is frequently dictated by government, bank, or other lender requirements; however, management or shareholders may decide that they wish to have a higher level of assurance with their financial statements for job-bidding, sale, or other business-related purposes. As a member of Chartered Professional Accountant of Alberta our accounting firm can offer you all these engagements that best suits your needs, we encourage our clients to understand the difference
A compilation engagement (or Notice to Reader) is the basic level of financial reporting. There is no assurance provided with these financial statements; however, for a large number of our clients this level of assurance is acceptable for their financial reporting purposes. Most banks now accept a Notice to Reader (NTR) as part of their debt covenants for small loans as long as it is signed by a certified professional accountant.
A review engagement is the next level of assurance for financial reporting. Not as detailed as our audit services we increase the number of procedures that we perform during our engagement, including analytical review, to provide a level of assurance that the financial statements are plausible in properly presenting the financial situation of your business.
An audit engagement is the highest level of assurance for financial reporting. This type of engagement is the most involved and time consuming. Generally it involves performing a large number of tests and completing a number of procedures to determine whether or not the financial statements are presented fairly and are reasonable before issuing an engagement report.
(403) 450 8388
4714 1 Street SW, Calgary, AB