Home

Due to our diverse client base, we encounter a wide array of financial and tax issues. As a result, we have gained valuable experience over the years in numerous specialized areas, many of which are listed below. We feel our ability to provide such a variety of services reflects our versatility and competency, as well as our dedication to quality client service.

  • Mergers & Acquisitions
  • Corporate recovery
  • Asset protection
  • Debt Management
  • Business start-up or expansion
  • Bankruptcies
  • Insurance
  • Litigation support
  • Cash flow forecasting
  • Employee benefit plans
  • Expert witness services

We gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business. We can help your business identify areas negatively affecting profitability and growthThe following are just a few of the areas in which we provide consulting services:

  • Accounting software selection and implementation
  • Business valuations
  • Buying/selling a business
  • Business process improvement
  • Computer systems
  • Financial & retirement planning
  • Estate planning

 

Professional accountants offer many services to clients. There comes a time in every business when the services of a professional accountant are required. This need can arise at various points: at the planning stage in a new business venture; when tax returns for the business or the owner need to be prepared; when a potential or current lender requires a financial statement; or, when you might need to replace your present accountant. For some, you may need a professional accountant for assistance in your own personal tax planning or retirement planning. Although there are several varied reasons, it is important to understand the work performed by professional accountants.

Professional accountants refer to the work they perform for a specific client as an engagement and it is helpful for users of financial statements to understand the differences between an audit and other accounting engagements.

There are three different engagements associated with the financial statements of a business:

  • Audit Engagements
  • Review Engagements
  • Compilation Engagements

Audit Engagements

The objective of an audit engagement is to enable independent professional public accountants to render an opinion on the fairness of the client’s financial statements.

Audited financial statements are the accepted means by which many business corporations report to shareholders, bankers, creditors and to government. Federal and provincial legislation in Canada generally requires a limited company (corporations) to prepare annual financial statements for audit by qualified independent auditors.

The financial statements subject to audit are the responsibility of the company’s management. The auditors’ responsibility is to express an opinion on those financial statements. The auditors must plan the audit to obtain reasonable assurance that the financial statements are free of material misstatement. Through the study and evaluation of the company’s system of internal control, and by inspection of documents, observation of assets, making enquires within and outside the company, and by other generally accepted auditing procedures, the auditors will gather evidence necessary to determine whether the financial statements present a fair picture of the company’s financial position and its activity during the period being audited.

Review Engagements

The objective of a review engagement is to prepare and review financial statements to ascertain whether they are plausible, that is, worthy of belief. If, after reviewing the financial statements the accountants are satisfied that the financial statements are not misleading, the accountants’ standard report will preface the financial statements.

Where an audit is not required or the shareholders have waived the appointment of an auditor, financial statements may be prepared on a review basis. Reviews provide limited assurance that the financial information conforms to generally accepted accounting principles.

In performing a review the accountants would be independent of the clients and have sufficient knowledge of the industry in which the business operates. They would acquire sufficient knowledge of the client’s business to make intelligent enquiry and assessment of the information obtained, with the limited objective of determining the plausibility of the information reported on. The review should entail enquiries, analytical procedures and discussion with responsible client officials.

This degree of assurance is less than that resulting from an audit and is expressed as either:

  • The negative assurance that nothing has come to the accountants' attention that would indicate the financial information is not presented in accordance with generally accepted accounting principles, or
  • A reservation together with appropriate disclosure and explanation of the reservation.

Compilation Engagements

The objective of a compilation engagement is to compile unaudited financial information into financial statements, schedules or reports based on information supplied by the client.

A compilation engagement is appropriate only where the client and other users do not need financial information that conforms in all respects to generally accepted accounting principles and audit or review assurance is not required, and where the client understands that the statements may not be appropriate for general purpose use.

The procedures performed are not designed to enable CPAs to provide any assurance on the reliability of the compiled information. To warn readers of this lack of assurance, CPAs attach a "Notice To Reader" that states that no review was performed on the information (as above) and that the information may not be appropriate for use by the reader. If CPAs know, or have reason to believe financial statements or misleading or incorrect, CPAs must not associate with this information. A compilation may be applicable where financial statements are prepared for the exclusive use of the company's management or for income tax purposes.

 

With years of tax return preparation experience, we welcome the opportunity to assist you with the preparation of your Personal (T1) returns.

T1 Returns include:

  • Residents of Canada for part or all of the year
  • Individuals receiving income from employment, investments and private or government pensions
  • Children who earn money through baby sitting, paper routes, etc
  • Terminal returns for individuals deceased during the year
  • With years of tax return preparation experience, we welcome the opportunity to assist you with the preparation of your Personal (T1) returns.Optional returns for deceased individuals (based on the facts in each situation)

We are proficient in providing the following services relating to your tax filing:

During Tax Season

  • Gathering of slips and documentation and an analysis of your personal tax situation to ensure that no claim has been overlooked
  • Preparation of entire family’s returns (including spouse and children)
  • Preparation of your HST return if you are self employed
  • Optimizing family income splitting
  • Timely filing of elections
  • Electronic filing of returns
  • Preparation of Foreign Income Verification Statement if applicable

After Tax Season

  • Verification of accuracy of Notice of Assessments
  • Preparation of adjustments to previous years’ filings as required
  • Handling of correspondence with CRA in the event of an e-file audit or pre-assessment review
  • Communicating with CRA on a variety of issues requiring immediate attention
  • Paying installments for clients who are out of the country
  • Ongoing discussions with clients regarding tax planning strategies that may present themselves throughout the year

Cloud technology is one of the most significant advances in the business world in recent years. As businesses start to trust in vital storage, new dynamics are coming into play. There have been many changes in the past few years with accounting and bookkeeping software, which is providing great opportunities while presenting various challenges. By embracing cloud-based bookkeeping companies have easy, anywhere access to their data and there is no doubt this kind of real-time access to data enables better business management. Our clients are embracing it for many reasons:Cloud technology is one of the most significant advances in the business world in recent years

  1. Scan and email documents If necessary we provide a fax line
  2. Collect monies through EFT or have you deposit the cheques and copy us on the deposit slips
  3. Pay suppliers by cheques printed on your site or through Electronic Funds Transfer (EFT)
  4. Pay Salaries by EFT
  5. Return paper where necessary through courier
  6. Safeguard all your files in the cloud
  7. Where appropriate give you 24-7 access to all your files
  8. Submit withholding tax and other government forms electronically
  9. Send you financial statements electronically
  10. Reconcile your bank accounts electronically
  11. Speak to you monthly via Skype
  12. Advise you on corporate business strategies and review your growth as appropriate
  13. Identify potential cost-saving measures
  14. Guaranteed Partner response time within 4 business hours from 10 am EST to 6 pm EST
  15. We never undertake any projects we cannot handle 

For many businesses, the transition from a desktop accounting system to the cloud is a major leap of faith however, cloud-based services are making it easy to not only take the bookkeeping functions to the cloud but pretty much every aspect of the business.

Our belief is to talk the talk and walk the walk which means, embracing cloud-based technology however we can. We have moved our business to a highly secure cloud service provider and enabled all personnel to have access to this information, from wherever they may be working.

Although we have a local address, we are a virtual business and can support clients across the country as well as overseas. As long as we have an internet connection, we can be of full service to your company's needs.

  • it makes information accessible from virtually any location and any device
  • generally, it provides automatic back up for valuable data
  • it allows easy access to information for members of a team
  • it supports workplace flexibility
  • it is cost-effective

Technology is changing the way we support you in your businesses. With the rising acceptance of cloud-based accounting, we can assist business owners like yourself with more meaningful conversations about strategy, growth and profitability, in real-time, as opposed to retrospective conversations.

To explore how we can best serve your needs, call us by telephone at 416-243-2096 or by email for a free, no-obligation consultation.

Mission Statement

Our mission at A4 Tax & Accounting is to provide high quality and affordable accounting and tax services, while being responsive to our clients' needs

Vision Statement

Our vision at A4 Tax & Accounting is to be known in the business and residential community as an accounting firm that provides high quality service, and to become the number one choice of our clients

Secure Email & File Transfer

ecourier

COVID 19 Financial Relief for Canadians

pdf

Our Contact Details

Mailing Address

A4 Tax & Accounting Professional Corporation
Chartered Professional Accountant
1735 Kipling Ave, Suite A2
Toronto, ON 
M9R 2Y8

Office Hours

Monday to Friday: 10 am to 6 pm
Saturday & Sunday: Closed

Phone: 416-243-2096

Send Us a Message

Send Us a Message