Accounting and Assurance
KBFP is a Licensed Public Accounting firm providing accounting and assurance services to businesses and organizations in Vaughan and throughout York Region. These specialized services are intended to accommodate creditor, regulatory, and investor requisites. In principal, we recommend the professional services of a licensed accounting firm - it ensures high standards of work, expedited in a cost effective and timely manner. Our services are available to privately held companies, and not-for-profit organizations, and we offer a full range of accounting and management advisory services: review and auditing of financial statements; preparation of customized reports; CFO/Controller services; and routine bookkeeping/payroll services.
Our clients often require a review and assessment of their financial statements - this may be related to a formal request from an outside party, and should be prepared by Licensed Public Accountants. Some clients just want to improve their internal accounting systems and enhance the standard of their operation – once again, this is a function best handled by a licensed firm. KBFP reviews financial statements, and issues an opinion of plausibility that defines your financial position – and all of our work is performed in accordance with Generally Accepted Accounting Principles (GAAP). This type of review is less extensive than an audit because less assurance is provided, and the scope of work consists mainly of review and analysis.
Whatever the size of your business, financial statements always play an important role in the accounting process. At KBFP, we offer a service package based on your specific needs – we audit financial statements, when required, or we can simply compile and document financial statements for tax reporting purposes or future planning and decision-making. We put it all together for our clients: quality work; a cost-effective approach; and all based on your timetable. KBFP is here to help you create a financial future, based on realistic and viable analysis.
When it comes to more complex tasks like auditing, KBFP practices a risk-based audit approach – it focuses on areas that represent the highest level of risk of material misstatement. This method allows us to be cost-effective and efficient, while taking the time to understand your business internally and externally. We always maintain the highest levels of professionalism, engendering integrity, objectivity, and independence in everything we do. The bottom line: we make certain that our audited financial statements are free from material misstatements.
For routine bookkeeping and payroll, KBFP offers small businesses a full-service option that allows owners to place more focus on their daily business operations. We can manage all of your bookkeeping; we assure that government remittances are accurate; administer A/R and A/P functions; and oversee cash positions that reflect business performance. We believe in thorough record keeping as a foundation for making better decisions, reducing “clean up” operations, and avoiding errors. If required, we can create a bookkeeping solution that meets your specific needs - in fact, we can service you whether you need a staff bookkeeper, a part time Controller, or a short term CFO.
Where clients require special reports, KBFP can compile virtually anything that’s requested by business partners, lenders, or outside investors. These reports might be for regulatory purposes, or to corroborate existing financial statements – regardless of purpose, a licensed and accredited accounting firm, with a team of professionals, is the way to go.