The Accounting Standards Board (AcSB) recently reviewed several accounting rules that apply to private businesses in Canada that require a financial statement review or audit. Their goal is simple: make accounting requirements easier without reducing the usefulness of financial information for lenders, owners, and investors. The...

Financial statement audits are essential for companies looking to improve their financial reporting accuracy and transparency. An audit provides independent and objective assurance that a company's financial statements are free of material misstatements and errors. Here are the benefits of financial statement audits and why...

  Audit standards are always changing and 2023 is no exception. Here, we will discuss changes to an important audit standard, how it impacts the audits we perform, and what the implications will be for our clients. Revised CAS 315, Identifying and Assessing the Risks of Material...

  Not-for-profits have a wide range of financial statement users who make decisions based on the information provided. CPA firms are often engaged to provide assurance services not only to meet requirements of lenders and grantors, but also to lend credibility to their financial reporting.   Although the pandemic...