assurance_services
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ASSURANCE SERVICES
CONFIDENCE FOR INSPIRED GROWTH.
ACCOUNTING ASSURANCE ADVISORY TAX
Decision makers dedicate every day to developing astrategy that allows a business to not only grow, butthrive.
Resultantly, as organizations develop in complexity,the accuracy of financial information becomesimportant to an entity’s overall success.
Accurate financial statements open up a world ofpossibilities for decision makers, transformingroadblocks into challenges, challenges that canbecome competitive opportunities.
Ensuring the accuracy of financial information is anintegral first step in the decision making process.
The assurance services offered at FCR provide a uniqueadvantage to many of our clients. Depending on yourorganizational needs, our experienced accounting andassurance teams offer solutions in the following servicecategories:
An organization’s choice of engagement type willdepend primarily on the users of the financial statements.
Our assurance professionals have a depth and breadthof industry expertise, which is essential to understandingan organization’s business model. By understanding yourmodels and industries, our teams can identify whicharea’s pose the highest risk in the material presentationof your financial statements.
With over two decades of experience in Northernmarkets, FCR’s assurance teams understand local marketconditions, as well as the unique challenges and resultantopportunities. This knowledge allows us to formulateeffective assurance strategies for local organizations,offering practical and industry focused advisory servicesthroughout the assurance engagement.
The assurance services at Freelandt Caldwell Reilly LLPprovide you with year round contact with an assuranceprofessional. This ensures continued support throughoutthe assurance process, keeping your management teamup to date on industry and reporting changes that affectyour organization.
ASSURANCE AND COMPLIANCE SERVICESWHEN ORGANIZATIONS SEEK THE PRECARIOUS BALANCE BETWEEN RISK AND REWARD; THE ACCURACY,CREDIBILITY, AND RELIABILITY OF FINANCIAL INFORMATION IS INTEGRAL TO THE DECISION MAKING PROCESS.
Review Engagements
Compilation Engagements
Financial Audit Engagements
Strategic Performance Review
A DEPTH AND BREADTH OF EXPERIENCE
INDUSTRY CENTRIC APPROACH
CONTINUED CONTACT
WWW.FCRCA.COM
ASSURANCE SERVICES
NOTICE TO READER SERVICESCompilations are the most basic means of assessing thereporting methods of an organization and provide littleassurance on the relativity of financial information.
These types of assessments are used to providemanagers with feedback as to the general directionthat the organization is traveling and whether or notcertain financial goals are being met.
Notice to reader, year end statements are useful forinternal purposes and are recommended if:
■ You are a sole proprietor or a small business entity;■ Your business is looking to supplement annual audits
or review services with interim financial statements;■ There are no third party users who rely on audited
financial statements;■ You require financial statements strictly for internal
purposes;■ Your needs for strategic planning (investment, tax,
accounting) are very limited.
REVIEW SERVICES
While an audit’s directive is to ensure the accuratepresentation of financial information for third parties, areview serves more of an internal purpose.
It allows managers and business owners to evaluate thecompany’s various reporting methods while providingthese same individuals with what is known as “limitedassurance”.
Organizations will generally seek feedback via a reviewengagement if:
■ The organization is heavily reliant on external financ-ing;
■ Financial statements are relied upon for the purposeof buying or selling the organization;
■ The statements will help accounting or tax profes-sionals provide advice to the organization’s manage-ment for strategic planning initiatives.
OUR AUDIT PROCESS
Audit Acceptance and Planning
Reporting
Audit Field Work
Audit Strategy Development
Risk Assessment and Profile
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AUDIT SERVICESAudited financial statements serve different purposesfor different users. Generally, audited financial infor-mation aims to add credibility to an organization’sfinancial reporting and the management of its financialaffairs.
These audited financial statements are the mediumthrough which organizations report to shareholders,the government, regulatory bodies, banks, creditors,investors, venture capitalists and insurance companies.
Typically, audits are recommended if:
■ There is a requirement from your bank, creditor, orinsurance provider;
■ A regulatory party requests audited financialstatements;
■ Funding agency’s request financial statements;■ Accurate financial statements are instrumental in
strategy development.
62 Frood Rd. - Suite 301Sudbury, ONP3C 4Z3
30 McCulloch DriveEspanola, ONP5E 1J1
1.855.363.3526