Tel: 416-645-8353

Fax: 1 844 654 2727
(1 844 6KG CPAS)

Licensed Public Accountants

Assurance

The Kotamarti Group is authorized to practice public accounting by the Chartered Professional Accountants of Ontario. We perform assurance work with a team of highly qualified and experienced professionals using leading industry software and the latest assurance templates provided by the Institute of Chartered Professional Accountants of Ontario. Our goal is to understand your business, evaluate your internal controls and identifying risks and opportunities that are relevant to your field. We will help you gain the confidence of investors, creditors and other stakeholders in your financial statements through our thorough analysis, guidance as well as expertise in different fields.
We prepare and provide special reports including:

  • Audits of Single Financial Statements and Specific Elements
  • Accounts or Items of a Financial Statement (CAS 805),
  • Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks (CAS 800)
  • Engagements to Report on Summary Financial Statements (CAS 800)

Our Assurance Clients include:

  • Public clients who report under International Financial Reporting Standards
  • Not-for-profit organizations who report under Accounting Standards for Not-for-Profit Organizations
  • Private Canadian clients who report under Accounting Standards for Private Enterprises

  • Our audit and review clients span numerous industries such as finance, manufacturing, retail, educational industries, investment fund managers, not-for-profit organizations, mortgage administrators and private career colleges.

Financial Statement Audits (External Audits):

Financial statement audits add credibility to the implied assertion by an organization's management that its financial statements fairly represent the organization's position and performance. The objective of an audit engagement is to enable independent public accountants to render an opinion on the fairness of a client’s financial statements. The auditor or Chartered Accountant always follows specific procedures and guidelines for handling the engagement. The benefit of a financial statement audit is to provide reasonable assurance that management has presented a ‘true and fair’ view of a company’s financial performance and position. The procedures required for the financial audits include substantive testing of account balances through analysis, inquiry, inspection, observation and confirmation.
The opinion is given in the form of a standard written report which normally consists of three paragraphs. The first paragraph identifies the financial statements and distinguishes between the responsibilities of management and the auditors; the second describes the scope and level of assurance; the third contains the expression of an opinion. In addition to fulfilling the required audit procedures, we always seek to help our clients improve their internal controls. We achieve this through our ‘3 Step Approach– What, Why, and How’. This approach enables us to identify the problem, why it is a problem, and determine an appropriate resolution while keeping in mind the resources available to our clients.

Reviews:

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, an Accountant’s Standard Report will preface the financial statements. Many banks and financial institutions require organizations to have their financial statements reviewed by licensed public accountants like us when applying for a loan or as part of their loan agreements.

Compilation Engagements (NTRs)

Compiled financial statements or Notice to Readers are statements which are prepared by simply compiling the financial records of an organization. No opinion is provided over these statements. Many businesses only need their financial statement presentation to conform to the Canadian Income Tax Act. NTRs are suitable for small businesses where shareholders are quite involved in the daily operations and a detailed review is not necessary. The objective of a compilation engagement is to compile unaudited financial information into financial statements, schedule or reports based on information supplied by the client. A Notice to Reader appears on each prefacing the financial information and warns of the limited involvement of the accountants. We work with your organization to ensure that your financial statements are well presented for your own management as well as for tax filing purposes.

Internal Audits:

Internal Audits play a crucial role in helping companies add value and improve their performance by anticipating potential risks and putting effective controls in place. With internal audits, it becomes easier to test controls and processes, identify weaknesses, and provide recommendations to overcome these weaknesses. We apply the latest tools and resources to ensure that your business is compliant with all industry-specific best practices and guidelines. If you want your company to operate with good governance practices, proactive internal audits are a great way to achieve that goal.

Internal Control Assessments:
Internal Controls are crucial to being compliant and protecting an organization’s financial assets. Although a lot of companies put these controls in place, they fail to consistently monitor them resulting in non-compliance and fraud. At The Kotamarti Group, we assist you with the full process of designing, putting the controls into practice as well as monitoring them on an ongoing basis. Give us a call today to see how we can help you reduce costs for compliance and mitigate financial risks within your organization.

Performance Measurements:
Being able to measure the performance of your business is critical to the growth and enhancement of your organization. We help businesses develop strategy so that key processes can be integrated into their performance for measurement. Accurate assessment of your business can help you reach your goals and objectives and ensure that relevant data is collected regularly through established reporting systems. At The Kotamarti Group, we can help you every step of the way to implement KPI’s (key performance indicators). Give us a call today to understand how we can help you with this process.

About
The Kotamarti Group

Phone: 416-645-8353

Fax: 1 844 654 2727 (1 844 6KG CPAS)

Email: info@kotamartigroup.com

Address: 7001 Steeles Avenue West, Unit # 18 Toronto, ON, M9W 0A2.

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