What is Auditing and Why Perform an Audit?
Auditing is a detailed examination of the financial reports of an organization and is used to instill confidence in all stakeholders that the organization’s accounting reports are precise. At IOS, we provide end to end support to our clients across Toronto and Vancouver for completing the audit of accounts by improving and signaling the reliability of accounting information to stakeholders. Our audit specialists support in resolving each and every query raised by our clients (and stakeholders) to their satisfaction.
Set compliance standards
for Financial Statements
IOS’ audit and assurance department ensures that companies’ Financial Statements are in compliance with the industry and regulatory standards. As we are a company offering comprehensive services like workforce management and process improvement, we will be able to use our expertise in these sectors to not only perform auditing, but also find the gaps and suggest solutions.
Benefits of Financial Audits Reports
We have also observed that financial audits reports generate other benefits to companies – for instance when you approach a financial institution for a credit, the audit report will instill confidence and allow them to offer better rates and spike credit ratings especially when the audit is done voluntarily.
Our suite of Audit Support and Services
- Statements – Financial Reporting Standards recommend certain standards and we ensure that the statements prepared by us abide by the same.
- Consolidating and auditing Financial Statements.
- Offering independent audit opinion based on a company’s Financial Statements.
- Filing and submitting the required documents.
- Due diligence services for internal and external purposes.
- Leveraging complimentary services like gap analysis, labor planning, process improvement etc.
- Assurance of audit prior to statutory deadlines.
As companies continue to digitize, we ensure that we also stay ahead of the curve by keeping up with technology changes. There is no reason to wonder if you see a number of tasks related to auditing done by artificially intelligent systems (AI).