Audit and Assurance Services

To know where you’re going, it’s important to know where you’ve been. Audits and professional assurance services give you a clear picture of your business’s current performance. However, far more than just a “report card”, audit and assurance services can be – and should be – a wellspring of ideas for business owners to improve decision making; reduce waste; tighten controls; shorten payment cycles; optimize operations and spot challenges or trends before they become significant business disruptions.

Our long history of audit and assurance experience has always been focused on helping business owners adapt to changing industry trends and government legislation.

Assurance, combined with proactive advisory services, should be an integral part of your organization’s roadmap to long-term, sustainable success. So much so, that the success of one year’s audit can often be measured by the accomplishments your business achieves in the following year.

A seamless process

We deliver on promises to the public trust, setting high standards to achieve a quality audit and investing heavily in training and tools, including systems that ensure consistency, objectivity, and accountability. Our technology allows us to work efficiently, and our paperless process connects your systems with ours, resulting in a speedier, more accurate audit.

Another major asset at your disposal is our experience. Our partners and team members are actively involved and regularly exchange insights and advice with you and your senior team members.

An audit shouldn’t interfere with your business, so early planning and proper staffing are keys to delivering timely results and in avoiding unpleasant surprises. With Richter on your side, an audit becomes an exercise to look forward to, rather than an event to lose sleep over.

OUR SPECIALTIES:

Audit – Private companies

An audit is a source of reliable and actionable financial information, and we view the audit process as a vehicle for continuous improvement. Audits add credibility to your financial information and give you the added value of experienced observations and advice. By carefully examining your most recent results, a quality audit reveals information that can improve and guide your decision-making. We provide timely counsel to business owners and executives with integrity and objectivity.

Accounting

We provide monitoring of and assistance with implementation of new accounting standards; analysis of the accounting treatments of complex transactions; technical support when converting financial statements to another basis of accounting; and assistance with project management. We can also assist with accounting manual writing, preparation of training material, and training session facilitation. Our advisors are continuously renewing their knowledge of new accounting regulations, ensuring your team is up to date with new requirements.

Review, Compilations

Assisting you in preparing financial statements, we provide efficient delivery of our services, coupled with honest, open, and respectful two-way dialogue regarding the financial results of your company and our recommendations for potential improvements. We process and deliver draft and final financial statement packages based on your readiness, and government filing requirements.

Financial Reporting

We provide assistance with the structure and content of financial records (financial statements, MD&A, annual report) preparation of financial records and reporting; optimization of the financial close process; and continuous disclosure requirements under securities regulations. Our team also includes experienced professionals specializing in accounting standards (IFRS, Canadian and U.S. GAAP, ASPE).

Compliance and Reporting

Our team applies a structured, collaborative approach during audits by tax authorities. We have tools that delineate the audit scope while fostering an efficient exchange of information between you and the tax auditor. The tools we have developed facilitate audit processes and help identify specifically how much progress has been made. By ensuring that information is shared and discussed in a timely manner, we help you avoid unnecessary disagreements and costly delays. Our team can help you manage your audits and oversee the implementation of a method tailored to your specific situation to minimize the resources your organization must commit to these audits.

Foreign Desk – Helping you expand into the Canadian Market, or internationally

Expanding your activities to a new country requires a flexible structure that maximizes your organization’s value drivers: sales, marketing, and operations. It also means having to deal with new and complex regulations, as well as completely different cultural, financial, and economic ecosystems. Having access to the right advisors and networks to ensure your business is established properly is key.

Specializing in helping business owners establish presence in Canada, or wherever the right market is for your organization, our team of multidisciplinary professionals fully understands specific challenges and constraints you may encounter. We work for you as a holistic one-stop shop for all your financial, operational, and business advisory needs.

Over the years we have assisted numerous companies from Europe and other regions in successfully expanding into North America by leveraging our knowledge of the Canadian and U.S. markets and their respective tax codes and filing requirements to optimize a business’s presence in its newly chosen region.

Understanding that your needs go beyond the numbers, our Foreign Desk team helps business owners and senior executive management teams understand and integrate into North American economic markets, as well as helping to navigate the different systems culturally. We are the entrance door to developing your business activities in the North American market.

System and Organization Controls (SOC) Reports

Service oriented businesses are beholden to their clients’ to safeguard their client’s information and meet service delivery objectives. As outsourcing relationships become increasingly complex and cybersecurity and privacy concerns continue to be at the forefront of business risk concerns, clients’ demand for greater confidence in internal control systems has never been greater. SOC 2 is the most widely sought-after report on controls at a service organization relevant to security, availability, processing integrity, confidentiality, or privacy.

SOC 2 is the most widely sought-after report on controls at a service organization relevant to security, availability, processing integrity, confidentiality, or privacy. Richter’s approach in delivering SOC 2 audit services is pragmatic and focused on helping businesses instill confidence in their clients through demonstrating good governance, processes, and controls. Our experienced team has supported several clients across a broad range of industries realize value from their SOC 2 experience.

Payment Card Industry (PCI)

The Payment Card Industry Data Security Standard (PCI DSS) is a set of security requirements that merchants or service providers who handle credit card data or can affect the security of credit card data need to comply with. Whether your organization is new to Payment Card Industry (PCI) compliance and needs some help getting started, or you’ve been doing it for a few years and are ready to start your transition to complying with PCI DSS version 4.0, Richter can help fulfil your PCI needs.

Public Key Infrastructure (PKI) Assurance Engagements

As e-commerce continues to grow and more online transactions are conducted, consumers need comfort with the online technology used to ensure their interactions over the internet are secure. A Public Key Infrastructure (PKI) is the technology that can help secure online transactions.