Keeping up with today’s fast-paced economy requires solid management and having financial controls in order to keep up with the quickly evolving face of business. If you require assistance with controlling your finances and positioning your business to take advantage of the changing financial landscape, enlist the help of a trusted chartered accounting firm like HSM.
At HSM in Markham, our accounting and assurance services are designed to provide you and other decision-makers with transparent financial statements, along with peace of mind knowing that appropriate controls are in place to maintain a stable standing. With this assurance, you can focus on growing your business, and positioning it as an attractive investment opportunity for outside investors.
Accounting assurance is a type of independent professional accounting service provided by certified or chartered accountants such as CPAs. Assurance services are considered audit activities, and require a professional with the right knowledge and experience.
Assurance is a process used to analyze and evaluate the financial records of a company. Among other things, the process involves verifying that the company’s accounting records conform to accounting standards and principles as well as that the records are accurate. Assurance services can be grouped into three distinct types: compliance audits, regulatory audits, and financial statement audits.
The main goal of the assurance process is to check the accuracy of financial reports and make sure that there is no misrepresentation or tampering done to these financial records, no misuse of funds, fraud or dishonest activities done by the company-providing “assurance’ that everything is good financially speaking.
The assurance process assists in helping a company determine financial decision making as it works to build on customer feedback, gain accurate financial information, and implement employee feedback or any other areas where information is required to make decisions. Businesses usually use assurance services to increase the transparency, relevance, and value of the information they provide to their investors.
The modern business environment features increased competition and the need for quicker and more accurate information for decisions to ensure they are right. Both businesses and their customers need independent assurance that the information that they are basing their decisions on is reliable.
Comprised of highly-skilled professionals, our team prepares, reviews, and audits financial information with your specific needs in mind. You can trust our Partners to be highly involved in all accounting and assurance engagements, delivering the highest quality of work, and upholding ethical standards and objectivity at all times.
You can also count on our compliance services to go further than the audit or review engagement itself. We provide ongoing support through consultations regarding your day-to-day accounting needs, as well as a thorough analysis of your business throughout the engagement, allowing us to identify and mitigate potential risks, and capitalize on opportunities presented by the market.
With increasing regulations and complexities in the accounting standards brought on by large corporate disasters, we know that you may not have adequate time to keep abreast of all the developments in this industry. We are here to help.
Our commitment to high-quality service and innovative financial solutions responds to this challenge – we make sure that our team is continuously updating their knowledge base. Equipped with the latest financial information and best practices, we can help your organization accomplish goals and stay on track towards becoming an industry leader.
The following are some of the services provided by our firm:
- Audit engagements; the initial stage of an audit wherein we establish the purpose and scope of the audit
- Review engagements; a review of the financial statements to ensure they are believable, and generally free from material errors and fraud
- Compilation engagements; presentation of the financial data gathered from other engagements in cohesive statements
- Assistance with accounting and control procedures; ensuring all processes are performed accurately and correctly
- Assistance with selection and operation of computerized accounting packages
- Statutory filings; submitting financial and non-financial data to the proper authority to remain compliant
- Bookkeeping assistance; recording transactions and post debits and credits as well as producing financial statements for the management’s review
- Miscellaneous assurance engagements
