C. Lough-Li Professional Corporation provides audit services in and around the Calgary area. Contact our professional accountants to know more about our auditing services.
An audit report is the highest level of assurance involved in financial reporting. They are sometimes required by banks, creditors and shareholders and often by the grantors and donors of Not-for-Profit Organizations and Charities.
The procedures relevant in an audited financial statement include those procedures of a review engagement with more extensive procedures in assessing the risks of material misstatement in each financial statement balance and the evaluation of the internal controls of the Organization. Although more assurance is derived from these financial statements, it does come at a cost.