Auditing
An audit engagement provides you with the highest level of independent assurance through a professional opinion on whether the entity’s financial statements are fairly presented and in accordance with generally accepted accounting principles, standards or other suitable basis. It involves planning, communications, risk assessments, professional judgement, professional assurance standards, evaluation of financial and operational controls and governance and audit approach assessments.
An audit opinion is an expression of fairness of presentation in accordance with accepted standards and audit procedures. It is not a certification that everything presented is completely verified.
Audits are required by all publicly traded companies in Canada and the US which are governed by other regulatory bodies. Audits may be needed by private enterprises, non-profit organizations and or strata councils.
Our approach works closely with you to service your needs and compliance requirements. We have in depth knowledge gained from experience working with wide range of industries. Our services can help in managing your risks, resources and information. We keep you up to date with relevant reporting and related legislative and technical changes and provide you with the most appropriate advice to maximize the potential of your business.
Bookkeeping and Accounting
Day to day bookkeeping and accounting are interconnected and require not only technical accounting knowledge but also an excellent understanding of your business, industry and your particular needs.
We at Heer & Co. will tailor our approach to your specific requirements and provide you with accurate information on a timely basis, in an efficient manner, thereby saving you time and effort leaving you and your staff more time to concentrate on performance, managing of cash flow, other operations and the growth of the business.
We will assist our clients with:
- Financial statement preparation, which requires compiling the recorded transactions into an understandable set of statements using the best accounting practices and professional standards. These financial statements will help you make best decisions possible for your business and can be used in meeting your tax compliance requirements. Such statements can also be used for audit and other assurance needs.
- Day to day bookkeeping, preparation of your internal and year end statements. Our services are specific to your needs and are performed accurately, efficiently and on a timely basis thereby enabling you to concentrate on the core business.
- Payroll services allow you a worry free calculation, a timely remittance of statutory deductions and satisfying the reporting requirements.
- GST/PST returns, for compliance and reporting purposes enabling you to dedicate your efforts to developing your business.
Assurance Engagements
Review Engagements
A review engagement provides a level of assurance that is less than an audit and the report is in the form of a negative assurance. Such an engagement relies primarily on analytical techniques management enquiry and representations, analysis and plausibility to determine the reasonableness of the financial statements in material aspects. Generally we are not required to examine source documentation in arriving at our conclusions.
Such assurances are usually required by banks and other financial institutions when there is financial risk or exposure exists. A review adds independent credibility to the financial statements at a substantially reduced cost compared to an audit.
At Heer & Co, as independent accountants we are able to provide assurance services at competitive rates, and in a timely manner. At the same time we can provide tax and other regulatory compliance services and thereby saving you time and effort and letting you concentrate on growing your business.
Other
Heer & Co. can provide assurance services for contractual compliance requirements such as adherence to specific performance services. Our services are structured directly to meet your needs and the level of assurance required by the parties. Any work performed under such requirements is tailored to the engagement by a written understanding and the procedures performed are customized to suit the circumstances, at all times ensuring that the applicable quality assurance and professional standards are maintained.
Business Advisory
Business owners and managers are experts in operating their business and with Heer & Co.’s assistance they can focus on what they do best. We at Heer & Co. use our tax, accounting and business knowledge to help you optimize your ideas, plans and strategies into financial results.
Some of our advisory services include:
- Business plans and projections
- Cash flow projections and management
- Due diligence for significant transactions i.e. buying or selling business
- Referral to other professionals as necessary
- Financial guidance as to business structures
- Financial and internal controls to assist with safeguarding your assets
Taxation and Estate Planning
At Heer & Co. we share your viewpoint on paying as little tax as you can. This means learning about your needs and future objectives is very important in determining any plan to manage and to minimize taxes due. We can help with preservation and transfer of wealth to future generations, family or charitable foundations by navigating you through the various estates and trust vehicles that may be available to you. We can, not only assist you with options but also provide you with ongoing support to meet any filing and administering requirements.
Canadian Compliance
Individuals and businesses require an integrated quality services that ensures that tax compliance is efficient, timely and minimizes the tax burden on the future generations. We at Heer & Co. assist with such compliance and ensure that due dates are met, accurate and appropriate information is filed and hence any interest or penalties are avoided.
Our such services include:
- Preparation and filing of provincial and federal corporate and personal returns
- GST/PST tax filings
- Payroll remittances and other payroll related annual filings
- Scientific research and experimental development credit applications
- Other tax credit and tax programs as necessary
Succession and Strategic Planning
Succession planning is a key component of managing business or personal finances. Without a good plan you may find yourself in a difficult situation, especially when transferring wealth and or exiting your business.
We at Heer & Co. explore all the options that work with your business or personal situations. We help identify your key needs and develop an action plan that considers the transferable value of your business and or assets. All tax and business implications are identified before proceeding with the final transaction, thereby minimizing any taxes that may be due on the transaction and hence safeguarding your assets.
As part of strategic tax planning our objective is to protect your assets and to minimize taxes that apply. We at Heer & Co. consider possible corporate restructuring and remuneration strategies, preparation of trust returns, corporate and personal tax planning, estate planning and providing due diligence for business acquisitions or other significant transactions.
Business Transactions
Every business owner and leader knows and understands the importance of building value in their organization, be it starting a new business, planning succession and or selling a business. In order to achieve the best results we at Heer & Co. work closely with the owners and managers to develop plans to achieve their success.
Our expertise as chartered accountants can assist with all aspects of business transactions including:
- Starting a new business
- Merging and or acquiring new businesses
- Corporate reorganizations
- Financial due diligence
- Improving internal controls
- Business succession
- Sale of business
- Other compliance requirements