Compilations/Financial Statements Preparation

A compilation engagement (Notice to Reader) assembles your organization’s financial information into professionally prepared financial statements summarizing your operations. A Notice to Reader financial statement is usually appropriate for most types of small and medium-sized businesses. We use data from the financial statements to prepare corporate and personal tax returns.

At 4Sight Group, we understand that your business needs a set of financial statements to meet the tax compliance requirements of the Canada Revenue Agency. We not only prepare a professional set of financial statements for our clients, but we look for tax and business operational efficiencies. We will advise you on available and applicable tax deductions and credits to help you save taxes and contribute to your future business plans.

We also understand that private enterprises are becoming more and more focused on improving their cash positions. Upon completion of our work, we go through your financial statements with you to help you address any business gaps, issues, challenges and financial details to plan together for the future.

Review Engagement

A review engagement is typically requested by a bank, shareholders, board directors or a potential buyer. It differs from an audit but provides a level of assurance that the figures within the financial statements are reasonable and presented per applicable accounting standards.

When a review engagement is requested, our accountants will begin discussions with you (the client and/or the management team) and perform a broad review of your financial statement data. We apply several analytical procedures to provide the level of assurance required. In addition to our review engagement services, we help identify operational inefficiencies, so you can make strategic changes that will help you achieve your goals.

Audit

An audit is the highest level of financial statement service. An audit involves performing procedures and reviews to put together evidence about amounts and disclosures in the financial statements. 4Sight Group conducts the audit under the generally accepted Canadian auditing standards. The foundation of our audit approach is to develop an understanding of you (our client), your governance, strategic priorities, risks, challenges, business controls and operating environment. Doing this helps us focus on specific risk areas and provide suggestions for improvement.

A cornerstone of the 4Sight Group audit approach is collaboration and continuous communication. We involve our clients throughout the whole audit process, from beginning to end, so there are no surprises.

From the start, we will plan the audit process collaboratively. We respect your other commitments and will work with you to find a suitable time for our audit work, keeping in mind your reporting deadlines.

Our team has substantial audit experience in many not-for-profit and for-profit organizations including (but not limited to): charitable organizations, condominium corporations, municipalities, co-operatives, religious institutions, school divisions, First Nations bands, and sports associations.

Personal and Corporate Tax

Why 4Sight Group for your tax compliance services?

Our accountants are always current on new tax laws and legislation, allowing us to identify meaningful opportunities for tax planning that minimize current and future tax liabilities.

We create tailored solutions for our clients, providing both our individual and corporate clients with tax services and advice that they require, not just during tax season but throughout the whole year.

We have an advanced understanding of the tax compliance process and experience working with the Canada Revenue Agency.

At 4Sight Group, we provide:

• High-quality tax services
• Advice to reduce tax
• A network of tax specialists
• Representation with the Canada Revenue Agency
• Technology that makes it easier for our clients to work with us
• A long-term relationship

Estate and Trusts

Keeping the most from what you have earned requires “foresight,” even into the later stages of life. Proper estate planning facilitates a smooth transfer of your assets to beneficiaries and provides security for your dependents. It can reduce or eliminate any tax due on the transfer of your wealth, your business and other assets. Working together, we will develop a plan for the distribution of wealth to your dependents and provide advice on using trusts to minimize future taxes.

Succession Planning

You have a successful business, and now you plan to retire or are exploring something different. Putting a plan in place ensures you are not paying too much in taxes and make the transition to your successor seamless, ensuring your business is prepared for the future. 4Sight Group will work with you to identify and analyze your options and create an exit plan.