Bevan and Partners Chartered Accountants have been a trusted accounting firm in the Southern Alberta and Saskatchewan Provinces since 1950. We have extensive Audit Engagement experience that has been a valued service to our community for over 70 years.
An Audit Engagement is the highest level of assurance our firm offers. All sides of the business entity are investigated to prove the accuracy of the financial statements that represent it. Our Chartered Professional Accountants have the training and experience to perform a quality audit for your company.
The Audit Process
To summarize, a review engagement’s purpose is to ascertain the plausibility and reasonability of your financial records in a negative assurance procedure. Audit Engagements are the highest level of assurance due to the greater substantive examination of your organization’s internal controls. Besides pouring through your financial records, our Chartered Professional Accountants complete a physical examination of the methodologies of your operation to ascertain any significant deficiencies.
As we conduct our inspection, we will:
- Analyze invoices and purchase orders
- Reasonably value company equipment through outside sources
- Personally tabulate existing product and operational inventory
- Systematically investigate operation workflow
- Independently balance financial statements
Once the audit is complete, our CPA team will provide a positive assurance report. This report will indicate that your organization and its financial statements are free of misstatements and adhere to the required accounting codes and regulations. During the process, if anything looks askew, we will work to understand where the deficiency exists.
Who Requires Audits
Audit Engagements are required for many industries. Various regulatory agencies and third-party entities require organizations to be audited on a routine basis to ensure correct accounting practices are being maintained and to rule out instances of fraud.
More common industries include:
- Not for Profit
- Sports Organizations
- School Divisions
- Condo Corporations
If you are in need of an audit, contact us today. Our consultants will review the process with you and your management team.