Audits and review engagements are two essential tools for assessing financial health and compliance. While both safeguard the integrity of your financial reporting, they serve different purposes: audits examine your financial records for discrepancies and non-compliance, whereas reviews analyze procedures and trends to establish an approximation of your overall financial health.
It's important to choose the right level of assurance for your business's requirements, current goals, and budget.
At A & N Accounting, we deliver precise, compliant, and transparent auditing solutions designed to strengthen financial accuracy at every stage. Our services are designed to identify inconsistencies, correct inefficiencies, and ensure readiness for any regulatory review.
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Strong financial systems take a proactive approach to identifying discrepancies and implementing solutions. With A & N Accounting’s auditing process, we detect irregularities, uncover inefficiencies, and ensure compliance with governing standards. By strengthening internal controls and validating documentation, our audits help protect your business.
An audit is a structured examination of your financial records and transactions. It reveals inconsistencies, verifies the accuracy of records, and evaluates compliance with Canadian governing standards.
At A & N Accounting, our audits and reviews uncover discrepancies, irregularities, and fraud to ensure your finances are compliant and consistent. Each audit is also customized to your needs and unique situation. We specialize in identifying inaccuracies before they become liabilities, helping you maintain financial discipline throughout the year.
Our structured audit program includes record verification, transaction sampling, control testing, and documentation review. Through every step, regulatory compliance is the goal. We design an audit checklist around your operation, so nothing is overlooked. This methodical approach helps your business stay compliant, well prepared, and audit ready.
An in-depth audit is a proactive risk management tool. Not only does it prepare you for future audits, but it helps you identify risks early before they can wreak havoc on your business. Early risk detection and mitigation support better financial management and greater confidence, while maintaining consistent audit readiness.
Not every organization requires a full audit. Review engagements provide limited assurance by analyzing procedures, identifying inconsistencies, and evaluating trends. Unlike a full audit, they do not test transactions. Nonetheless, they are able to give businesses a reliable view of their financial position.
A & N Accounting delivers precise review engagements, providing an in-depth picture of overall compliance. We help maintain adherence to Canadian accounting standards.
A review engagement focuses on assessing whether financial information is reasonable and consistent, rather than verifying every record in detail like an audit. Our CPAs use analytical procedures and focused inquiries to evaluate your statements, identifying inconsistencies and areas of concern. In doing so, we provide limited assurance while maintaining financial transparency.
The differences between audit vs review engagement come down to depth, assurance, and purpose. An audit tests financial records, internal controls, and supporting evidence to deliver a high level of confidence. A review engagement looks at whether your financial statements appear reasonable. Reviews use inquiries and trend analysis to provide moderate assurance at a lower cost.
Every review engagement we conduct aligns with Canadian accounting standards. Moreover, our work is grounded in ethical, transparent reporting with careful attention to accuracy. We use focused procedures to test whether your numbers make sense, spot inconsistencies, and flag potential issues early. A & N Accounting ensures your financial information is dependable and easy to defend.
Our step-by-step approach to audits and reviews is based on more than a decade of experience. We have created systems focused on rigorous planning, in-depth assessments, and long-term financial control. These are designed to enhance resiliency and protect the financial integrity of your organisation.
With A & N Accounting, every audit begins with an in-depth risk assessment and careful strategizing. We analyze your financial history, operational landscape, and look closely at high-risk transactions. This provides a full understanding of your operations, while uncovering vulnerable areas. Once potential risks are identified, we recommend actionable tactics for early intervention and future prevention.
Our compliance auditing services ensure your business meets Canadian regulations and standards. This is vital for the longevity and protection of your operation. We review everything from reconciliations and ledgers to vendor agreements and banking documentation to verify integrity at every level. Comprehensive documentation not only helps you pass audits, it also reinforces stakeholder confidence.
Instead of providing a one-time audit, we act as a long-term strategic partner. Our ongoing audit management consulting ensures your business stays organized, compliant, and ready for external review. We also help optimize systems and refine internal controls to reduce risk and enhance operational efficiency year-round.
A compilation engagement organizes information into structured financial statements based solely on client data. Unlike a review or audit, the CPA does not verify the accuracy of the information or examine supporting evidence. They are ideal for internal reporting, budgeting, or early-stage planning when assurance is not required.
The purpose of a compilation engagement is to assist management. Using this report, your management team can prepare for tax returns, better understand the financial health of your company, and demonstrate your viability for loans. However, the report can only be as accurate as the information provided by the client. Without audit-level verification, it is essential to submit high-quality, precise data.
Compilations help you make better, more informed decisions when budgeting, internally reporting, or doing preliminary planning. They provide much-needed clarity when timing or cost constraints limit deeper evaluation, like a full audit. With transparent statements in hand, leadership can identify trends and plan with confidence.
Unorganized records stall growth, delay audits, and shake confidence in your company. Our compilation work restructures your financial information into consistent, logical records that support smooth operations. Clear financial records strengthen your company’s performance in future audits and reviews, accelerate decision-making, and ensure compliance.
Protect your business with precise auditing, review engagements, and organized compilation. Our services are designed to provide the clarity and control your operation needs. We tailor our audit and risk management solutions to your business needs while meeting current accounting standards.
Contact A & N Accounting today to request a consultation and partner with trusted accounting professionals committed to safeguarding your financial future.
To learn more about our range of financial services, call A & N Accounting at 647-932-1618 or contact us here.
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Working with Aziz transformed my business. His reliability, promptness, and wealth of ideas and solutions have been invaluable for scaling. Truly the most dependable accountant I’ve ever encountered.
A&N Accounting played a crucial role in securing funding for our business, providing us with the means to scale effectively. Their support was absolutely pivotal in our growth.
When I desperately needed a funding solution for my business and my previous accountant fell short, Aziz stepped in and delivered. His expertise was exactly what my business needed.
Working with Aziz transformed my business. His reliability, promptness, and wealth of ideas and solutions have been invaluable for scaling. Truly the most dependable accountant I’ve ever encountered.
A&N Accounting played a crucial role in securing funding for our business, providing us with the means to scale effectively. Their support was absolutely pivotal in our growth.
When I desperately needed a funding solution for my business and my previous accountant fell short, Aziz stepped in and delivered. His expertise was exactly what my business needed.
Partner with a team that understands your financial goals. A & N Accounting delivers tailored guidance based on expertise and accuracy. Regardless of your financial goals, we are here to support your future. Book a consultation or request a quote today to begin working with a trusted accounting partner that is truly committed to its clients.
To learn more about our range of financial services, call A & N Accounting at 647-932-1618 or contact us here.
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