Services
Review
Review engagement reports offer an economical solution for companies seeking precise financial statements, particularly those mandated by lenders for substantial financing or other stakeholders. Our team of Chartered Professional Accountants employs analytical procedures, inquiries, and discussions to fulfill review services. These engagements deliver heightened accuracy compared to financial statement compilations, albeit without the exhaustive analysis of an audit. Especially beneficial for small and medium-sized enterprises, our reviews provide an opinion on the accuracy of financials and highlight any potential discrepancies. Additionally, we offer recommendations to address any identified issues, enhancing your understanding of your business.
Audit
An audit engagement provides the highest level of assurance that your financial statements are free of material misstatements.
In completing an audit engagement, our Chartered Professional Accountants will use various procedures including analytical, inspection, observation, external confirmation, recalculation, and inquiry to complete the audit services.
Audit engagements provide a higher level of assurance than a review engagement and are a great option for businesses that require external reporting to lenders or government agencies for funding or internal reporting to a Board of Directors.
We also identify any internal control deficiencies in your company and risk mitigation techniques to allow you to improve your financial management.
Audit Services Provided
Perform audits of the Balance Sheet, Statement of Retained Earnings, Statement of Earnings, Statement of Cash Flows, and accompanying Notes to the Financial Statements.
Provide a detailed management letter outlining upcoming tax liability and filing responsibilities.
Prepare and file the T2 Corporate Income Tax Return.
Develop in-depth corporate tax planning and individual tax planning for shareholders.
Audit all compliance returns (GST, WCB, Payroll, etc.) to confirm accuracy and filings are up-to-date.
Draft letters of instructions to your lawyer to prepare the necessary resolutions for dividends declared or other issues regarding corporate structure.
Personal Tax
– Handle the submission of personal income tax returns for:
– Single individuals
– Married couples
– Families
– Self-employed individuals
– Deceased individuals
– Coordinate the filing of corporate tax returns alongside personal filings.
– Offer support for audits.
– Assist in revising and preparing tax returns from previous years.
We'll pinpoint opportunities to decrease tax payments by utilizing eligible deductions such as:
Employment-related expenses
Deductions for family, child care, and caregiving expenses
Education-related deductions and transfers
Disability deductions and credits
Charitable donations
Medical expenses
Contributions to RRSPs
Numerous other eligible tax credits
Corporate Tax
– Prepare corporate tax returns for:
– Established corporations
– Newly formed corporations
– Corporations undergoing dissolution
– Provide financial statement compilation services.
– Offer bookkeeping assistance.
– Assist in understanding eligible deductions and expenses.
– Aid in tax minimization strategies.
– Provide tax planning for owner-managers.
– Assist in amending and preparing prior year tax returns.
– File GST/WCB returns for corporations.
– Offer advice on installment payment plans.
– Provide support for audits.
Bookkeeping
Whether you operate a small proprietorship or a small to mid-size corporation, enlisting the services of a bookkeeper can ensure meticulous record-keeping and provide you with peace of mind.
If your business’s bookkeeping requires organization, if your financial records are in disarray, if you are facing an audit, or if you need assistance in rectifying records left by a previous employee or accountant from another firm – we are here to assist you.
Collaborating with a bookkeeper can streamline your year-end preparations and potentially reduce your accounting expenses. Professional bookkeeping services also afford you a clearer understanding of your business’s progress and potential.
We can collaborate with you to tailor customized services that meet your business requirements and fit within your budget.
Services Provided
Deliver month-to-month comparative statements for the current year to help track business performance and expenses effectively.
Perform bank and credit card account reconciliations.
Manage accounts receivable.
Administer accounts payable.
Calculate payroll deductions accurately.
Determine payroll remittances.
Prepare Records of Employment.
Handle the preparation and filing of various tax information slips (T4s, T5s, T5013s, T5018s, etc.).
Prepare and file GST returns.
Prepare and file WCB returns.
Generate custom reports on a monthly, quarterly, and annual basis tailored to your specific requirements.