Explore our corporate accounting and assurance services in Burlington, Oakville, Hamilton, and surrounding areas
As a business owner, you know that the rules and regulations around financial reporting are complicated and ever-changing.
Our experienced team of Accounting and Assurance advisors are here to make your business life easier by ensuring you are compliant with the financial reporting guidelines for your industry as well as your corporate tax filing obligations while providing strategic insight for your decision-making and planning.
Our Accounting and Assurance Services:
Compilation Engagement Services
This is the most basic level of financial service that accountants provide. A Compilation Engagement consists of compiling and displaying your business data within a financial statement. A compilation engagement is not designed to express an opinion or provide any level of assurance regarding the financial information.
An organization would seek out a compilation engagement when they do not require assurance level statements for a third party but need statements for internal use and decision making.
Review Engagement Services
A review engagement is designed to establish whether there are any inconsistencies within the financial information of your business. This type of engagement uses techniques such as inquiries, analytical review, and discussions with members of your team to assess the quality of information provided and verify the validity of sources within the statements. While a review is not as comprehensive as an audit, in some cases it can satisfy the needs of your business with a limited level of assurance.
A review is required in several circumstances including applying for financing, selling a business or when the Board of Directors are looking to obtain a level of assurance around the statements that are being prepared by management.
Audit Engagement Services
An audit engagement involves a detailed analysis of the accounting records and disclosures included in the financial statements. Every audit is tailored to the individual business’s needs, and a variety of procedures are performed using different methods of analysis, including inquiries, physical verification, transactional testing, confirmation with other third parties, and analytical reviews, to name a few. An audit engagement provides the highest level of assurance and is often required when reporting to shareholders, financial institutions and credit lenders, and the government. Audits regularly provide a level of insight into the processes a business employs and offers suggestions for improved efficiencies.
An example of a situation that may require an audit would be where the bank provides significant financing to a business. An audit provides a level of assurance that the financial statements are reliable for the bank to assess creditworthiness, and the continued ability of the business to meet its financial requirements. In addition, some companies choose to conduct an audit for future financing needs, a future sale, or just added comfort in the quality of their financial reporting.
Tax Compliance
As a business owner, there are a multitude of tax laws and regulations that you and your business need to adhere to. These rules are updated regularly, and our tax compliance services help you stay on top of them. Our team is an extension of your business and ensures the correct forms and returns are completed accurately. Where necessary, our team will communicate with the federal and provincial tax authorities on your behalf. Our team takes the pressure off you, ensures the highest level of compliance, and finds ways to optimize your return.
SB Partners doesn’t offer tax compliance services to Canadians doing business in Canada. We also have the knowledge to support you in your cross-border business with the U.S., such as U.S. Corporate Tax filings.
Contact our Tax team if you need support with Corporate U.S. Federal and Local Tax.
Accounting and Assurance for Non-Profits and Charities
Not-for-profit organizations face a unique set of challenges. These challenges may include sustainable funding, changing volunteer base, public scrutiny, and an ever-changing operating environment. Our team are able to advise and guide charities and not-for-profit organizations, so they have the information they need to make critical decisions and meet their compliance requirements.
Frequently Asked Questions (FAQs) on Accounting and Assurance Services
No. While an audit MAY detect fraud, an audit is not designed to do this and does not guarantee that any fraud will be detected. The auditor will communicate any concerns uncovered during the audit to those responsible for oversight. This can include, but is not limited to collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
We are members of the Chartered Professional Accountants of Canada and the Chartered Professional Accountants of Ontario and are licensed public accountants. As members of CPA Ontario, the firm is required to undergo practice inspections every three years.
SB Partners works with a variety of businesses, from large corporations to small to medium-sized enterprises ( SMEs), and owner-managed private companies. Whether you are starting from nothing or looking for change, our team of industry experts can support you and your business.
Our team of chartered professional accountants (CPAs) work with clients across Southern Ontario, including Burlington, Oakville, Hamilton, Mississauga, Brampton, Guelph, Kitchener, Milton, Cambridge, Grimsby, and St. Catharines.
Find out how we can support your business!
Contact us today to learn how our accounting and assurance can make sure your business is compliant.
Our Accounting & Assurance experts
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Get in touch with us
Do you have a question for SB Partners? Need help to understand your business financials or value? We’re here to help with all of your accounting needs, please get in touch today.
Email us at help@sbpartners.ca or give us a call at 905-632-5978 or toll-free at 1-866-823-9990.
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