Audit and Review Services
Marcomm Solutions Inc. (MSI) is proud to be an experienced provider of audit and review services to the federal government departments, agencies, crown corporations and the private sector. Our audit service approach utilizes experienced auditors with a focus on key areas that make the audit process cost-effective and more productive. We provide you with timely, experienced specialists at reasonable fees. The review and audit services that we provide guarantee a reliable depth of assurance in the correctness of financial statements.
Review Services
The objective for the review exercise is to examine the financial statements to determine whether they demonstrate plausibility in the circumstances. The review process consists of discussions and enquiries with company personnel and the consideration of trends and ratios in order to evaluate and support the financial statements.
A review is not a substitute for an audit but its limited objective in the determination of plausibility can be useful, particularly in the case of small businesses.
Audit Services
An audit requires the study and evaluation of the internal control processes and an examination of the evidence to support the information supplied to our auditors. A true audit function consists of the auditor’s opinion as to the fairness in which the financial statements present the financial position and operating results of the organization. This function is also based on the premise that management has accurately recorded all transactions in accordance with the stipulated policies of those in charge or any funding agencies and has prepared the financial statements in accordance with generally accepted accounting principles.
Our audit and review services include the following areas of capability:
Financial Audit Services
MSI can carry out financially-oriented audits and reviews. We can field a team that covers the financial environment from external auditing to financial management, Government of Canada accounting and management accounting.
General Management
MSI’s management reviews are entirely customized to the specific needs of individual clients. As a result, reviews provide the benefits of a well-controlled and structured approach. We perform reviews of management policies, information systems, programs, business processes, organizations and management accountabilities.
Security
The context of "security" has been drastically changing in recent times. Security managers are challenged as much by a lack of resources as by the mythology surrounding security. MSI consultants have developed a depth of experience in undertaking security risk assessments. This includes understanding the modern-day risk environment, assessing potential threats and evaluating proposed mitigation responses. The interweave of security components is complex, incorporating the security management framework; IT security; physical security; access controls; employee protection; increased threat situations; personnel screening; business continuity planning; security in contracting; and incident investigation.
Information Management
In today's competitive business environment, timely, accurate, and appropriate information is crucial. The MSI team has acquired an excellent reputation in the multi-faceted field of informatics.
Informatics Management
A specialized independent review of the management of information technology and its functions is an excellent tool to ensure value-for-money in this complex area. Informatics management reviews and audits generally require an examination of the management framework, the process to develop and maintain computer applications, the procedure to operate and support business applications, and the process to plan for, obtain and manage infrastructure components.
Comprehensive Audit
Comprehensive audits traditionally refer to the integration of a variety of audit types, including: financial, compliance, operational, and value for money. A comprehensive audit typically is used to indicate the assessment of the "economy, efficiency and effectiveness" of organizations, programs and operations in order to evaluate the value for money. Value for money audits can be wide ranging in both subject and coverage. As a result, such reviews are an excellent basis upon which to promote continuous improvement, and foster accountability within organizations.
