The pressures and responsibilities of financial reporting and compliance for both for-profit and not-for-profit businesses in Ontario has reached unprecedented levels with new standards becoming more complex. Our Professional Chartered Accountants here at Oasis LLP will help you charter the complex waters of these standards so that you can spend your valuable time on growing your business. We can take care of all of your audit and accounting needs, while ensuring that your business is not just compliant but exceeds industry standards.
We provide various levels of financial reporting services. We are also authorized by CPA Ontario to provide assurance engagements (Audit and Review).
Audit:
A financial audit provides the highest level of assurance of any engagement. An audit may be needed to comply with the government, banks, shareholders or other regulatory requirements. In an audit engagement, we evaluate the organization’s financial reports and reporting processes and provide an independent opinion that the financial statements are prepared and presented fairly in accordance with the applicable accounting standards.
Review:
Review engagements provide limited assurance through inquiry and analytics for companies and organizations. We will provide an opinion that nothing has come to our attention that causes us to believe that the financial statements do not present fairly in all material respects if none exist. Generally, review engagements are required by third parties, such as lenders or where there are many stakeholders such as law firms with many partners, or a private company with many shareholders.
Notice to Reader:
Notice to the Reader, also referred as Compilation engagement is where we put together the financial statements based on the information provided by the management. We do not verify nor provide an assurance opinion. This is mostly done for small businesses in order to complete income tax returns.
Our Chartered Professional Accountants will provide you with high-quality results that meet all of the necessary requirements, and our firm will help you reach all of your goals. Our services will open up new opportunities for growth and will help you achieve success, so if you need a licensed public accountant that can assist in your audit needs, contact us.
Contact us today to learn more about this and other services we provide in the Markham, Vaughan, Richmond Hill, Toronto, and Thornhill areas.
Oasis LLP Advisors & CPAs