In private companies, not-for-profit organizations, and the public sector there are requirements for effective systems of internal control over financial reporting and the preparation of financial statements, with assurance for the reliability of the data and adequate control of any deficiencies.
MacKay LLP has reviewed the internal control system of many Canadian companies and organizations to provide an assessment of their internal controls and recommendations to enhance them. This helps management ensure that:
- Their operations comply with prescribed procedures, policies, and legislation;
- They establish systems to help prevent and detect internal fraud;
- There is appropriate financial reporting; and
- Operations are as effective and efficient as possible.
Our qualified and experienced accounting staff can help your business implement a control system that incorporates an appropriate evaluation process and effective monitoring in keeping with generally accepted accounting principles.
For more information on how we can facilitate your internal control evaluation, please contact your local MacKay LLP office.