Our team at Rawluk & Robert are knowledgeable and experienced in providing an Independent Audit opinion on a wide variety of Not-For-Profit organizations, Registered Charities and For Profit businesses in Canada.
The objective of an audit engagement is to enable the independent auditor to issue an opinion on the financial statements. An audit is intended to provide “reasonable assurance” that the financial statements are free of material misstatement and are in accordance with Canadian accounting standards. The term reasonable is necessary because absolute assurance is not possible. It acknowledges that limitations exist in all systems of internal control, and that uncertainties and risks will remain.
Auditors use a variety of methods to determine if the financial statements are free of material misstatement, including study and evaluation of internal controls, inspection of documents, physical counts of assets, making enquiries inside and outside the organization, and other procedures that support the Canadian auditing standards.
Canadian auditing standards for not-for-profit organizations are standards against which the quality of audits are performed and may be judged.
In Manitoba, Audit Engagements are a "public accounting service" regulated by CPA Manitoba and can only be performed by members in good standing.