Assurance & Accounting
Whether performing an assurance engagement, a compilation engagement or another accounting service, an integrated and proactive approach enables DJB to provide clients with timely financial information through customized service. Our goal is to ensure that our clients not only meet statutory requirements but to provide them with value-added services tailored to the nature and circumstances of their business. DJB’s accounting professionals maintain sound knowledge of our clients’ business and accounting systems, providing the insight necessary to make recommendations concerning operations, activities and opportunities.
At DJB, we use Canadian Generally Accepted Auditing Standards and follow exacting quality control principles and procedures in order to perform an audit engagement. Our audit procedures ensure that we have a thorough understanding of our client’s business, internal controls, systems and procedures; this allows us to provide an efficient and effective audit and constructive service suggestions.
Review engagements consist primarily of enquiry, analytical procedures and discussion related to information provided to us by the client. An audit opinion is not expressed, but limited assurance is provided and our steps, procedures and ultimate reporting are performed using Canadian Generally Accepted Accounting Principles. Having obtained an in-depth knowledge of our client’s business, we can provide information and interpret financial results that can improve decision making.
We can provide the assistance you may need to put together a set of financial statements summarizing your operating activity. In preparing these statements, we might also identify if any information supplied is incorrect or incomplete.
Keeping You up to Date
For years beginning on or after January 1, 2011, Canadian Generally Accepted Accounting Principles will be replaced with Accounting Standards for Private Enterprises (ASPE) or International Financial Reporting Standards (IFRS) for publicly accountable enterprises. Private enterprises will be required to decide which principles to adopt. New private enterprise standards are separate and distinct for Canada and include simplification in areas that were identified as being overly complex. IFRS are globally accepted, high quality standards that will lead to transparent and comparable disclosure of financial information. A DJB professional can discuss the standards with you and review the option that best meets your needs.
Auditors across Canada are now following new, high quality, international standards with regard to financial statements. Existing Canadian auditing standards have been replaced with new standards that came into effect for audits of financial statements for periods ending on or after December 14, 2010. The move to new auditing standards has created opportunities for us to evaluate how the current audit is conducted and for you to modify the assistance you give us to allow for an efficient audit.