Assurance & Advisory solutions; defining peace of mind
In today’s complex and competitive marketplace, companies are under greater pressure to ensure their financial information is accurate and timely. As a result, you need assurance that your financial statements are in order and available to an expert to provide you with sound, strategic advice on growth, taxation, or restructuring.
Assurance and Financial statements
Large and small, service or manufacturing, every business needs reliable information on its financial performance. Each year, SB Partners’ team of professionals help our clients assess their financial statements based on their needs. Because each business is different so is the type of financial statement engagement that we offer.
A compilation engagement represents the most basic level of service that CA’s provide with respect to financial statements. This type of engagement does not provide any assurance with regards to the financial statements and whether they are materially misstated. Instead, this engagement consists of compiling the financial information presented and displaying it in a financial statement format. The financial statements are not prepared in accordance with any professional accounting standards.
This type of engagement requires us to perform limited procedures to establish whether anything comes to our attention that would indicate that the financial statements are not in accordance with generally accepted accounting principles. The limited procedures would consist of discussion and inquiry of management and analytical procedures to assess the plausibility of interrelationships between financial statement balances. The review engagement is not as comprehensive as an audit and, as a result, provides only limited assurance regarding your financial statements.
An audit engagement is the highest level of assurance for your financial statements. In this type of engagement, we conduct inquiries and discussion with management, analytical procedures, and perform verification and substantiation procedures to assess the reasonability of the financial statement. These added procedures may include confirmation of balances with third parties, performance of inventory test counts, vouching of balances to source documentation, and a review of your internal controls and systems. The audit report states an opinion regarding whether the financial statements present the financial position and results of operations fairly in accordance with generally accepted accounting principles.
Advisory practice – wise counsel in changing times
SB Partners works with successful entrepreneurs – helping them grow, prosper and find solutions to a broad range of business challenges. We get to know our clients and then advise on how to deal with issues they face. Our in-house expertise extends to:
- MORE program or “Manage Opportunities and Reduce Exposure” – a diagnostic tool that guides the business owner through the key issues facing the business and its owner in today’s complex environment such as taxation, business succession, risk management, and business development with the goal to assess hidden risks to the business and highlight opportunities.
- Taxation – assessing your tax situation and providing you sound advice with the support of our dedicated tax team.
- Valuations – providing you with calculations of value for your business and identifying the key value drivers in your business with recommendations on how to impact those drivers to raise value.
- Mergers and acquisitions – whether you want to sell or buy, we can help you through the process and provide sound advice for you and your situation.
- Business consulting – providing you sound financial advice to assist you in growing your business.
- Computer consulting for Quickbooks and Simply Accounting – we can help with implementation, set-up, and on-going support, including updating your system, reporting, and implementing changes as they occur in the business environment.
- Budgeting and forecasting – assistance with development of your financial plan and tracking it versus your actual results.
- Key performance indicators (KPI) – we can help you determine your key performance indicators and work with you to monitor the KPI’s and provide advice to positively effect those indicators.
- Internal control review – assessing your systems and providing key recommendations for improvements in order to gain efficiencies and reduce the risk of loss due to errors or fraud.
“Year-long” – not just year-end
Your needs arise throughout the year, not just at year-end and we know that time is critical to our clients.
As a client, you may have one single point of contact with SB Partners. But that contact opens the door to the entire SB team. A team that’s multi-disciplinary. A team that’s business-disciplined.
, CA, CFP
, B. Comm., CA
, B. Comm., CA
, CMA, CFP, CA
, B. Comm., CA
, B. Math., CA
, B.Math, CA