We provide uncompromisingly personalized Accounting, Taxation, Advisory, and Business Valuation services, including audits, tax planning, financial planning, financing assistance, and management consultation.

Auditing

The audit function is directed towards expressing an opinion on whether the financial statements of the entity present fairly the financial position, results of operation and changes in financial position in accordance with generally accepted accounting principles consistently applied. To meet this objective, our examination will include generally accepted auditing standards and such tests and other procedures as we consider necessary in the circumstances.

Our audit examination will also include a study of the accounting system, internal controls and related data. Our assessment of the reliability of the accounting system and internal controls will affect the nature, timing and extent of further auditing procedures.

In properly organized accounting systems, reliance is placed principally upon the maintenance of an adequate degree of internal control to prevent or detect errors and irregularities. Because the audit examination will be planned and conducted primarily to enable us to express a professional opinion on the financial statements, it will not be designed to identify and cannot necessarily be expected to disclose defalcations and other irregularities. Of course, their discovery may still result from our examination and should any significant weaknesses in internal control be encountered for which we believe improvements are desirable and practical, we shall bring these weaknesses to the attention of the appropriate person together with any recommendations we may have.

Our “business approach” to auditing coupled with a transaction flow methodology will give our audit team and effective operational perspective. Thus, potential business problems with significant audit impact will be quickly identified.

During the course of our audit, every effort will be made to make maximum use of your personnel to prepare the required schedules and analyses in addition to the ones routinely prepared by your staff. This will not only ensure that your personnel will take a direct interest in the quality of your accounting records and financial reports but will also limit our fees to a minimum consistent with a quality audit.

Where statutory audit requirements do not exist and the need for audited financial statements is not warranted, we commonly provide non-audit services. These services are varied, and include:

• Providing advice on accounting matters
• Preparing accounting records
• Preparing or assisting in the preparation of unaudited financial statements
• Preparing or assisting in the preparation of information which clients are required to submit to governments or regulatory authorities,
• Performing a review of unaudited financial statements after preparation by the client

Tax Services

The minimization of tax is not achieved by any magic formula nor necessarily by elaborate and complex strategies. Rather, sound tax planning is a year-round experience which involves careful organization of your affairs, timely investments and taking advantage of allowable deductions.

After a thorough review of the financial situation, the objective will be to reduce the global tax bill which comprises the corporation’s tax and the shareholder’s personal tax. Consequently, different forms of shareholder remuneration will be analyzed.

We can also guide you in selecting the most appropriate method to purchase or sell a business in order to minimize the tax burden.

Often, the most forgotten types of taxation are federal and provincial sales taxes. In the past, these have generated more revenue for governments than corporate income taxes. As a function of sales as opposed to taxable income, sales taxes have become a major expense for the enterprises. We would ensure that the business entity takes advantage of all allowable exemptions.

The Canadian tax rules have continually been changed and revised, particularly in the last decade. Our firm is committed to maintaining an up-to-date working knowledge of Canadian tax matters. It is this expertise and professionalism on which you can draw as a client.

Financing

The task of obtaining financing is becoming increasingly difficult as financial institutions are being more discriminating in the loans they approve. Our firm can help you choose and approach a financial institution, prepare a financing proposal and negotiate a loan.

The main thrust of a financing proposal is the projected cash flow which is, essentially, a business plan over a future time period depicting the sources and requirements of cash for a certain activity. It will play an important role in helping the entrepreneur demonstrate to the lender how much he needs and how he intends to repay the loan. From the other side of the fence, in addition to reviewing the security available to him, the lender can evaluate, at a glance, the feasibility of the project.

Whether it be for a term loan, mortgage loan or an operating line of credit, our professional staff will enhance the credibility of your presentation and will go a long way in winning the lender’s confidence and trust.

Government Assistance

There exists a vast array of Federal, Provincial and Municipal government financial assistance programs. They are designed to influence the amount and direction of business activity and are given to promote research and development, encourage the export of Canadian-manufactured products, provide additional financing, strengthen a company’s management, and contribute towards the creation of permanent jobs.

We would guide you through this maze of programs and determine if any are applicable to your enterprise. The necessary financial package would then be prepared and the application completed.

It is important to recognize the availability of government assistance in order to maximize the profitability of your company and, at the same time, not to remain at a disadvantage with your competitors.

Management Consulting

The training and diverse professional backgrounds of our members enable us to offer quality services in the following areas:

• Bookkeeping services
• Design and implementation of internal accounting control procedures
• Purchase or sale of business
• Estate planning

It is imperative to identify the needs of a growing business and respond with the necessary changes. We would work closely with the users of the information to determine their needs so as to best satisfy their requirements.

In essence we would like our firm to be envisaged as an easily accessible source of year-round consulting services.

Business valuation services

What is a business worth?

We can assist in the valuation of your business for a potential sale. The valuation principles are explained and value drivers identified thereby providing the possibility of maximizing value.
We can also provide assistance in arriving at a valuation for potential acquisition targets.
Valuations are required in many tax and restructuring strategies. We can provide the support and comfort for those valuations.

Fees

Our fees are based on very competitive, standard rates. The nonrecurring first-time-through work will not be billed to you but will be absorbed by us as an investment in a continuing relationship. In the year following the initial engagement, we would expect that our level of fees would be influenced only by the effects of inflation on our costs, subject of course to the additional time necessary to accommodate your growth and its impact on our services.

As is always the case in an initial engagement, it is difficult to estimate the fee. Our firm is available to provide estimates of probable billing for the required professional service.