AUDIT (HIGH LEVEL OF ASSURANCE)
The objective of an audit engagement is to enable a public accountant to issue an opinion on the fairness of the client’s financial statements.
The organization’s management is responsible for preparing the financial statements for purposes of the audit. The auditor’s task is to express an opinion on these financial statements. The auditor must carry out this work in such a way as to obtain reasonable assurance about whether the financial statements are free from material misstatement.
Through study and evaluation of the organization’s system of internal controls, inspection of supporting documentation, making inquiries inside and outside the organization, and using other generally accepted auditing methods, the auditor will collect the information necessary to determine whether the financial statements adequately reflect the financial position of the organization and its activities during the period covered by the audit.
Audited financial statements are the generally accepted means by which many organizations are accountable to their funders, members, banks, creditors, and government.
REVIEW (MODERATE LEVEL OF ASSURANCE)
The objective of a review engagement is to review the financial statements to ensure that they are plausible.
Where an audit engagement is not required by funders, creditors, or members, a review engagement may be considered. A review provides limited assurance that the financial information complies with current accounting standards.
The public accountant conducting a review must be independent from the client and have good knowledge of the organization’s industry. The public accountant must have sufficient knowledge of the client’s business. The review should include inquiries, analysis, and discussions with management.
The resulting moderate level of assurance indicates that the public accountant has not noted anything that would indicate that the financial information has not been presented in accordance with current accounting standards.
Compilation and accounting assistance
The objective of a compilation engagement is to compile financial information into financial statements, schedules, or reports based on information provided by the client.
A compilation engagement is appropriate only when the client and other users do not need financial information that meets current accounting standards and audit or review assurance is not required.
A compilation engagement may be appropriate when the financial statements are prepared for the exclusive use of the company’s management, the financial institution, or for tax purposes.
We offer different solutions to help you in your business development and your bookkeeping:
- Monthly, quarterly or annual bookkeeping, according to your needs.
- Accounting treatment by projects
- Preparation of financial statements at the end of the accounting treatment
- Development of a chart of accounts customized to your field of activity
- Implementation of accounting software
- Payment of accounts payable and monitoring of accounts receivable
- Payroll management
- Preparation of the various tax statements and CNESST salary declarations
- Processing of submittals to the various levels of government:
- Tax instalments
- Payroll deduction reports
- GST and QST reporting
- Filing of periodic sales summaries (restaurant sector)
- Voluntary retirement savings plan
- Family support payments
The work can be done on your premises or at our accounting firm.
To better serve our clients, in addition to audit, review, and compilation engagements, we offer various other accounting services, including:
- Information on current labour standards and other tax rules
- Creation of tools to facilitate management of expense reports, timesheet tracking, etc.
- Implementation or configuration of accounting software
- Training on accounting software
- Assistance at year-end close, analysis of bookkeeping accounts, establishment of distribution keys for the breakdown of expenses, creation, and improvement of charts of accounts, bank reconciliations.
- Consolidation of group accounts
- Preparation of business plans and fiscal projections
- Assistance to daycare services in completing the file for the Ministère de la Famille et des Aînés and in calculating the final subsidy.
- Assistance to housing organizations in entering financial data on the online platform of the Société d’habitation du Québec (SHQ)
Tax services for companies and organizations
- Choice of compensation
- Corporate reorganizations
- Preparation of tax returns
- Applying for tax credits
- Consumption taxes
Personal tax services
- Preparation of income tax returns and other tax forms
- Death and succession
- Tax and financial planning
Tax advice and assistance
Our expertise involves providing you with all the help you may need in case of a disagreement with the revenue agencies. We make sure that your rights are respected and that you have access to all the information you need to make the best decisions.
- Representation before the tax authorities
- Adjustment requests
- Objection to a notice of assessment
- Assistance during a tax audit
- Voluntary disclosure
Advice and other mandates
Diagnosis and improvement of internal control and governance systems
Analysis reports on business plans or other financial data
Assistance in the creation of a not-for-profit or charitable organization