Assurance explained


Audit – We conduct a comprehensive examination of your financial statements and offer an opinion as to whether or not they fairly present the financial position and operations results in accordance with the adopted accounting framework.  Audits often encompass a comprehensive examination and evaluation of the entity’s system of internal controls, with particular focus on those controls safeguarding entity assets.  An audit opinion establishes formal credibility of your financial statements as it represents the highest level of assurance.

Review – Consisting primarily of enquiry, analytical procedures and discussion related to information as provided, a review involves the issuance of a written communication expressing a conclusion as to the plausibility of the presentation of the financial statements.  As the scope of work in a review engagement is significantly less than that of an audit, the degree of assurance provided in a review engagement is lower as well.  On occasion, business owners may request an additional examination of internal controls for their own added comfort.

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