Assurance & Accounting

Our Audit and Assurance team know that you expect more from your assurance engagement and we go out of our way to provide you with value added service.

• We plan for success: Planning is an essential part of the assurance engagement process and we believe that all of our engagement team members should be involved.  This knowledge and idea sharing increases our effectiveness enhancing the value we provide to you.

• We customize to meet your needs: We work with you and your management team to ensure we understand your organization including the challenges you face and the opportunities on the horizon.  This understanding, combined with our Nunavut and industry knowledge and years of experience, ensures our services are tailored to fit your reporting requirements, while also providing you with value added tax and advisory services.

• We use advanced technology: Our files are completely paperless and our use of cutting edge technology enables us to deliver high quality results in the most efficient manner possible.

• Continuity: We build teams that last. We understand how frustrating it can be to always have “new faces on the job”.  At Lester Landau, we strive to keep these changes to a minimum.  Our turnover rates are low and we use a senior management team for consistency.  From a professional staffing, scheduling and planning perspective, we strive to maintain the core continuity of the engagement team from year to year.

Audit of Financial Statements

Our audit provides credibility to our clients’ financial statements, as we offer more than “ticking and bopping” to an assignment. Our team will meet with you before our work commences and ask many questions to thoroughly understand your organization. This will ensure that adequate resources and training exist for tailoring the audit to your circumstances. Our audit will be conducted in accordance with Canadian Auditing Standards (CASs).  We follow all requirements of the CPA Canada Handbook - Assurance in our audit procedures.  We utilize checklists produced in the CPA Professional Engagement Guide (PEG) as the basis of our audit procedures.  The audit programs are then tailor-made specifically for the organization being audited. We recognize the necessity of providing our clients with the best possible range of compliance and advisory services in the ever changing business environment. Therefore, we ensure the continual development and enhancement of our range of audit tools to make our audit more efficient and less disruptive to our clients. Our audit methodology is developed with our clients in mind and kept current with today’s developments. We base our audit approach upon a common methodology that includes:

• Understanding the organization being audited from an internal and external point-of-view
• Assessing the risk of material misstatements and the controls in place to address and prevent these risks
• Responding to the identified risks by choosing appropriate procedures to obtain evidence of the significant financial statement assertions
• Adhere to a rigorous quality control process that ensures that the highest professional standards are applied to each of our audit engagements

Keys of our Audit Approach

We believe that high-quality audits, in fact and perception, are essential and therefore we continually emphasize the importance of maintaining the integrity of our audit process. Our professionals are highly aware of the need to maintain objectivity and independence. In addition, our audits are led by a senior mangement team who are heavily involved in the engagements and staffed by individuals with the appropriate skills and knowledge of our clients' operations. We recognize the benefits of a planned, proactive approach. We identify possible areas of risk that might require special attention and the advance planning typically results in an efficient audit process. Many aspects of assurance services benefit from industry experience and knowledge of Nunavut. We bring this experience and knowledge to every audit that we perform. We have professional experience in the public sector, not-for-profit, Regional Inuit Associations and their respective development corporations and training and employment entities as well as small and medium business of Nunavut.  Our professionals bring their expertise to both our audits of financial statements and advisory roles.

Review of Financial Statements

We provide review engagement services on the financial statements you submit to us, and issue an opinion on the plausibility of your financial position and business operations. Review engagements tend to require significantly less work than audits, mainly because the assurance provided is lower. A review primarily consists of enquiry, analytical procedures and discussions related to information that you provide. We then assess whether the details you have given are plausible for your business. A fresh perspective can be beneficial when it comes to your financial situation. Our dedicated team of professionals can review your financial statements in the event that bankers, outside shareholders and others will rely on them to make decisions regarding your business. We will look over your financial statement amounts and disclosures for plausibility in accordance with applicable Canadian Accounting Standard framework and then issue a report that outlines our process and opinion.

Compliance and Other Special Reports

Regularly, our clients require compliance and other special reports for funding agencies, lenders, landlords or joint venture partners. Whatever your special requirement we can help.

Accounting and Other Services

Compilation of financial information

We can bring all your financial information together and present it in a format that is professional and easily readable giving you the basic information you need to make business decisions.  We compile the information and you are rewarded with basic, complete financial reports.

Bookkeeping, Payroll and Advisory Services

It is often impractical for small and medium-sized organizations to have the full range of talent and expertise needed in their accounting departments. By enlisting Lester Landau as an outside service provider, you access a skilled and knowledgeable team at a lower cost than having in-house professionals.  Our service offers solutions to organizations facing various challenges:

• No budget for a full-time bookkeeper
• Overloaded in-house accounting functions
• Significant year-end adjusting entries
• CRA audit adjustment concerns
• Insufficient  time for administrative work
• More time needed to focus on core competencies

Our services help you address managing day-to-day accounting and tax issues, improving business decisions by enhancing credibility and integrity of financial records, and allowing more time to focus on priorities and strategies to grow your business.