Audit Services

Professional Audit & Review Services for Small Business Owners and Professionals in Markham

Establishing yourself as an independent business owner or a professional in Markham or Toronto is a herculean task. Carving a foothold in a fiercely competitive market to create a mark for yourself and your company takes time, dedication, and focus. As an entrepreneur, your primary focus is planning and strategizing about growing and expanding your business profitably. At the same time, it is also necessary to keep an eye on the financial systems in your company.

You have to prepare detailed financial statements regularly and have internal financial controls in place. These tasks may seem cumbersome at first glance, but they are of utmost importance in keeping your business up and running and making optimal use of the funds available for the company’s advancement.

Financial statements are a clear reflection of the company’s financial health while helping to make informed monetary decisions. Any error, omission or discrepancy in these statements can prove to be expensive – not just in terms of money but goodwill and future opportunities as well.

Our meticulous audit services prevent such scenarios and help you build and maintain shareholders’ trust through accurate financial reporting. An Auditor is a licensed professional who verifies your financial statements, books of record, and internal control policies to ensure they comply with all necessary regulations. The audit report conveys a company’s financial status to any interested third parties and presents an accurate and fair view of its financial performance.

Unique Businesses Require Unique Solutions

At KSSP Partners LLP, capable and experienced auditors take financial statement audit and assurance engagements as an opportunity to review the internal controls and provide actionable suggestions on improving them. Timely audits and reviews of financial statements and internal controls ensure strict regulatory compliance and seamless functioning of the business. Audit reports also help companies raise capital, get better, mutually beneficial negotiation terms with clients and suppliers, and make informed financial decisions.

We firmly believe that every business and profession is unique and has different needs. Hence, professionals at KSSP Partners LLP make sincere efforts to understand your vision for your business, its risks and opportunities, and the impact of changes in tax and accounting laws on your business.

Compilations and Notice to Readers for Entrepreneurs and Start-ups in the Greater Toronto Area

Not all businesses need full-fledged audit and assurance services. If you are a young start-up or a small business, you may want to compile the past three to five years’ financial statements for a particular purpose. Whether to obtain bank credit, or for due diligence in a potential merger and acquisition, or to find like-minded and interested investors, KSSP Partners LLP provides can provide you with in-depth compilation engagements for such businesses.

Our professional experts are adept at preparing Notice to Reader reports and compiling accurate financial statements based on the financial data provided by you. Our team uses this opportunity to offer you a more insightful perspective on your organization and its operations.

How KSSP Partners LLP Performs Audits for Small Business Owners in Markham, Toronto and across Ontario

The main aim of an audit report is to make sure that the company’s financial statement shows a true and fair picture of the company’s financial health. To prepare such a report with honesty and transparency, the auditor must ensure all major transactions are backed by verifiable evidence.

At KSSP Partners LLP, we follow a sophisticated step-by-step approach to financial statement audit, ensuring you have the complete report well in advance.

Understanding Your Business is our Busines

Every business is unique and falls under specific regulatory guidelines. Generalizing business plans and applying a one-size-fits-all model is unfair and harmful to any business. Our experienced and capable team leverages their expertise in the industry and business to identify specific risks to your business.

Prepare and Plan an Effective Audit Strategy

Once we identify the risk, we prepare a detailed audit plan to address said risk and/or any misstatement in financial statements.

Gather Verifiable Evidence

We then gather and analyze evidence by scrutinizing disclosures in the financial statement and the company’s internal controls. We at KSSP Partners LLP prefer to keep the audit plan dynamic and flexible to timely and effectively respond to any new information that arises while gathering evidence.

Prepare Transparent Audit Report

Based on the above findings, our experts prepare a final audit report ahead of time so that you can plan and arrange for necessary engagements well before the deadline.

KSSP Partners LLP in Markham, Your Trusted Partner for Professional Audit Services 

At KSSP Partners LLP, we use audit reports to assist entrepreneurs and small business owners like you in improving your business accountability and identifying vulnerabilities on time. Moreover, we offer tailor-made solutions to rectify the problems with the genuine intent of making your business financially stronger and more adaptive to changing business and tax needs.

A new, young business needs a confident, responsive team that understands their language and their problems. Our team at KSSP Partners LLP makes a tricky and often complicated job like auditing smooth and straightforward. Our goal is to provide a helping hand to our clients to lift the burden off their shoulders, giving them more time to focus on business growth and expansion plans. To learn more about how we can help you, contact us online or by telephone at 289-554-5997.

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Services

Your Local Small-to-Medium-Sized Business Advisors.

We offer customized service for your specific needs. We will focus on understanding your unique personal and business goals and your industry to ensure we continue to provide the ongoing assistance you require.

At KSSP Partners LLP in Markham, we have a sophisticated knowledge of an expansive variety of national tax issues affecting both individuals and corporations. We provide comprehensive guidance to our clients in several areas, including:

01.

Bookkeeping and Cloud Accounting

At KSSP Partners LLP, our extensive knowledge of the latest cloud-based software allows our innovative accountants to offer a proactive approach to bookkeeping and you, the client, the opportunity to update, maintain and access your business's books in real-time. This gives you the opportunity to immediately identify strengths and weaknesses and adjust your business plans accordingly.
02.

Tax

Canadian tax legislation and regulations evolve frequently and can be challenging for businesses to stay current and compliant with these developments. At KSSP Partners LLP, our team of experienced Canadian tax experts can provide you with tailored solutions to meet all your tax needs. We approach every complexity with skill and experience to ensure our clients receive the best possible outcome.
03.

Advisory Services

Whether an established business, start-up, or entrepreneur, managing your business requires you to juggle various tasks. Everything from budgeting, forecasting, and procuring funds to strategizing and optimizing business processes to save on costs. Let KSSP Partners LLP take on that burden. We understand the challenges of business management, and our Advisory Services will help you realize your financial goals.
04.

Estate Planning

While few people want to consider the necessary steps that need to be in place should the worst happen, planning ahead for any eventuality is an integral component for any business. For the transfer of wealth and ownership of a company to pass smoothly, there must be a plan for succession. The knowledgeable and professional team at KSSP Partners LLP can help you create an estate plan that will ensure a smooth and straightforward succession.
05.

Audit Services

Detailed financial statements are essential to the success of your business. A reflection of your company's financial health, they also aid in making informed monetary decisions. Errors can result in expensive consequences. Let the capable and experienced team at KSSP Partners LLP help. We can review your business's internal controls and provide actionable suggestions to ensure strict regulatory compliance and the seamless functioning of your business.
06.

Business Succession

Whether your business is just starting out, firmly established, or you are ready to begin winding your business down, a concise plan for what happens to your company when you are either no longer willing or able to operate it is a crucial element for any successful business. That’s why developing a comprehensive business succession strategy is essential to ensuring a smooth transition of ownership.