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Financial Statements

As a business owner or manager, it’s essential that you have confidence in your financial reports. We work with you to understand your reporting needs and the type of financial statement or report necessary to achieve your objectives and goals.

We offer a range of financial statement services based on your business’ needs:

Compilation Engagements

This is the most basic level of financial statement service that accountants provide. This service does not provide assurance with respect to the financial statements and whether they are materially misstated. Instead, it consists of compiling and displaying the data in a financial statement format. These reports are not prepared in accordance with any professional accounting standards.

Review Engagements

Review Engagements consist primarily of management inquiry and discussion as well as the performance of analytic procedures to determine the plausibility of the financial statement figures. A review engagement can be required when obtaining or renewing bank financing and is a useful tool for business consultation. Due to the nature of the testing, a review engagement offers less assurance than an audit but more assurance than a compilation.

 

Audit Engagements

An audit engagement is the highest level of assurance for your financial statements. We conduct inquiries with management, recommend analytical procedures and perform verification and substantive procedures to assess the reasonability of your financial statements.

Regardless of which type of engagement you choose, we employ rigorous internal guidelines regarding preparation, handling of data and delivery.

Case Study

Client Challenge

Cash Flow Analysis

SB Solution

We worked with management to complete a study of the cash cycle with the aim to improved cash management. We completed a cradle to grave analysis of the conversion of work-in-progress to receivables to cash to determine the time cycle and areas for improvement.

Impact

Through our analysis we identified cash conversion roadblocks and through the recommendations identified the client was able to reduce working capital tie-up by 20 days.

Contacts

John Chisholm

905 633-6316
jchisholm@sbpartners.ca

Gregory Clarke

905 633-6323
gclarke@sbpartners.ca

Mustafa Dossajee

905 633-6360
mdossajee@sbpartners.ca

Michael Kee

905 633-6338
mkee@sbpartners.ca

Christine Mills

905 633-6357
cmills@sbpartners.ca

Janice Pomerleau

905 633-6315
jpomerleau@sbpartners.ca

Joseph Schlett

905 633-6312
jschlett@sbpartners.ca

Glenn Taylor

905 633-6318
gtaylor@sbpartners.ca