Financial statements are a fundamental management and financial analysis tool for business leaders, as they provide a true picture of the financial health of their business. The preparation of financial statements is often a challenging task for most entrepreneurs, hence the importance of entrusting this work to an expert.
The scope of the mandate that is assigned to the accountant varies according to the needs of the company and the requirements that it must meet. By calling on our professional services, you will be able to rely on a high quality expertise (in line with the CPA Canada standards) to obtain a reliable product that meets your expectations and those of your business partners.
The auditor’s role is to obtain assurance that the audited financial statements provide, in all material respects, an accurate picture of the financial situation of the entity, as well as the results of its operations and cash flows in accordance with the appropriate accounting standards. To do this, we have designed an audit strategy that we adapt to all of our clients, which allows us to optimize our efficiency and facilitate the process for the client. This strategy is fully compliant with CPA Canada’s requirements.
The audit engagement consists mainly of evaluating the company’s internal control system, verifying the supporting documents, requesting for internal and external information, and implementing other generally accepted audit methods.
The audit is the type of engagement that offers the highest level of assurance.
The public accountant’s role is to ensure that the auditor has not found anything to suggest that the information in the financial statements reviewed is inconsistent with the appropriate financial reporting framework.
The review engagement is conducted in accordance with examination standards that are generally accepted in Canada. This essentially consists of inquiries, analytical procedures, as well as discussions on the information provided to us by the company’s management.
The review engagement provides a lower level of assurance than the audit engagement.
The public accountant’s role is to gather the information provided by the business leaders in order to present them in the form of financial statements.
The compilation engagement consists mainly of ensuring the arithmetic accuracy of the aggregation of the financial data provided by the client.
The financial statements’ compilation engagement does not give any form of assurance. Thus, this type of engagement may be appropriate when the financial statements are prepared for the exclusive use of business executives or for tax purposes.
Some agreements between business partners or granting agencies include an accountability report that presents an assurance report by an auditor. Good examples of these are contribution agreement audits and common expense statements audits. Our team has broad experience in this type of mandate and uses audit strategies tailored to the demands of the various parties.
Whether you are employed or self-employed, you can take advantage of our expertise in the preparation of your personal tax return. We will minimize your tax liability and make sure that you get all the tax benefits available.
Regardless of the size of your business, we can file your corporate income tax returns. Our main goal is to reduce your tax burden by constantly being on the lookout for new tax strategies.
Do not hesitate to do business with us if you or your company has a dispute with the tax authorities. We will be more than happy to represent you in order to assert your interests and negotiate on your behalf so that every detail is considered.
In the event of death, the liquidators of an estate are left with a great deal of responsibilities and obligations. Together with your lawyer, we will offer you a turnkey service, which means you will be benefit from personalised assistance at all stages of the process and we will ensure to bring your tax burden to a minimum. We also complete tax returns for all types of trusts.
In the event of an audit, we can act as intermediaries who will negotiate on your behalf and provide the appropriate documentation and supporting documents. Since the laws on consumption taxes are quite complex, we will be able to guide you in their application.
To get your business off to a good start, you need to know the existing legal and tax requirements. 4CPA can provide guidance and advice on choosing the type of business (a corporation, sole proprietorship and partnership) that best suits your needs.
In addition, we provide services related to business planning, financial projections and forecasts, profitability studies, operating budgets and financing plans.
The acquisition or the sell of a business is a significant event in the life of an entrepreneur. For this reason, this procedure should be done with the supervision of professionals who have the expertise to support you throughout your steps of buying or selling your business. Reach out to 4CPA and benefit from our advice and assistance in this process so that you can achieve your goals.
At any time, a company may be required to find external sources of funding to start new projects or expand. 4CPA will be pleased to analyse your financing needs and support you in dealing with financial institutions.
4CPA provides assistance to businesses that are experiencing financial problems. By analysing your company’s financial situation, we will be able to recommend effective recovery strategies that will get your business back on track.
Good strategic planning is mandatory to ensure the growth and sustainability of your business. In a world of increasing competition, establishing a strategic plan will enable you to stand out from the rest. 4CPA is able to analyse your current situation and help you develop strategies that will help you fulfill your ambitions in the short, mid and long term.
Implementing internal controls within a company is crucial to protect your assets and ensure the reliability of your financial information. 4CPA can evaluate the effectiveness of internal controls within your organization, identify their weaknesses and offer effective solutions.