Auditing Services in Surrey BC
The auditing or reviewing of a company’s financial statements are important duties that need to be conducted by an experienced, knowledgeable and independent accountant. CP Lehal and Company, CPA, CGA provides these services to clients throughout the province.
An audit is an opinion formed by the auditor as to whether a company’s financial statements have been fairly presented so that lenders, investors and regulatory agencies can feel confident that the company’s financial picture is accurate. The auditor will perform an in-depth investigation into the statements using a variety of methods including, but not limited to, personnel interviews, third party verifications, inventory counts, and analyses and testing of control systems and documentation. An audit is a rigorous, expensive process that requires a skilled, knowledgeable conductor to ensure the work is done properly.
A review is a less thorough investigation of the books, designed to determine whether what is in the financial statements is believable. The review engagement is conducted primarily by analysis of the statements and discussion with key personnel. The reviewer’s chief purpose is to assess the statements to see whether anything “jumps out” to suggest there is a problem. It may not carry the same weight as an audit because it’s not as thorough, but it’s still an important financial tool, and it still requires a careful reviewer because important corporate decisions will still be determined on its outcome. The upside, of course, is that it’s not as expensive as an audit.
CP Lehal and Company’s experience in review engagements means the firm is regularly called upon to conduct these crucial reports for companies looking to satisfy regulatory agencies, entice new investors or secure a loan. As with everything we do, we are meticulous in this work because there is so much potentially riding on the results. Our clients can rest assured that our procedures always follow those prescribed under Canada’s financial reporting and assurance standards.
Our work has helped clients secure millions of dollars in loans and investments over the years, so if your company requires an audit or a review of its financial statements, we here at CP Lehal and Company, CPA, CGA can help.