"Succeeding in business requires a vision combined with the passion and commitment to pursue that vision."

There are three levels of services with respect to communications on financial statements - an audit, a review or a compilation. Each of the services lends a different level of assurance or credibility to the financial statements.

AUDIT

The purpose of an audit is to enhance the degree of confidence of intended users of financial statements. This is achieved by an expression of an opinion by us on whether the financial statements are prepared, in all material respects, in accordance with generally accepted accounting principles in Canada.

This is the highest level of assurance provided by a public accountant.

REVIEW

Reviews are distinguishable from audits in that the scope of a review is less than that of an audit and therefore the level of assurance is lower. A review consists primarily of enquiry, analytical procedures and discussion of related information provided by a client with the objective of assessing whether the information being reported on is plausible.

The word plausible is used in the sense of appearing to be worthy of belief.

COMPILATION

Unlike an audit or a review, in which we provide reports on assurance; a compilation does not provided any expression of assurance. In a compilation, we take a client's information and arrange it into the form of a financial statement that is arithmetically correct only.

BOOKKEEPING

Bookkeeping is receiving client data (coded or un-coded) and summarizing the transactions in a general ledger for use in preparing a compiled financial statement. Bookkeeping includes the preparation of various reports and payroll required by management.

Bookkeeping services are provided on a monthly, quarterly or annual basis  - whatever suits our client!