Financial Audit Services in Langley, BC
Audit Services in Langley, BC
Clear, Independent Financial Assurance
An audit isn’t a punishment. Done right, it’s one of the most valuable financial tools a business or organization can have a clear, independent confirmation that your financial statements are accurate and complete, prepared by a qualified professional who answers to no one but the facts.
Our audit and assurance services at Langley Accounting Services are available to small businesses, incorporated companies, non-profit organizations, and strata corporations across Langley, Surrey, Abbotsford, and the broader Fraser Valley. Whether you’re required by law or by a lender to have an audit, or whether you simply want the credibility and clarity that audited financial statements provide, our certified auditors deliver thorough, professional results.
What Makes Our Financial Audit Services Different
CPA-led engagements. Every audit we perform is led by a Chartered Professional Accountant (CPA) with direct experience in audit and assurance. You’re not handed off to a junior. The person reviewing your files is the person with the credentials and the judgment to stand behind them.
Right-sized for small business. Many audit firms focus exclusively on large corporations. We specialize in the small and mid-sized business space, we understand your scale, your industry, and the practical realities of your financial environment.
Clear communication throughout. We explain what we’re doing, why we’re doing it, and what our findings mean in plain language, no jargon, no surprises. You’ll understand your audit report before it’s finalized.
Integrated with your accounting. Because we also provide bookkeeping, payroll, and tax services, an audit engagement with us is smoother and faster than working with an outside firm. Your records are already organized, and our team already understands your business.
An audit provides independent assurance that your financial statements present a true and fair picture of your organization’s financial position. Here’s when and why it matters:
Lenders and investors require it. If you’re seeking a bank loan, line of credit, or outside investment, audited financial statements are often a non-negotiable requirement. Lenders trust numbers that have been independently verified.
Non-profits and societies are often legally required to audit. Many non-profit organizations in BC are required under the Societies Act or their own bylaws to have their financial statements audited annually. Failing to comply can jeopardize your charitable status.
Shareholders and board members need assurance. When multiple people have a financial stake in an organization, an audit creates a shared, trusted record that protects everyone.
Grants and government funding often require audited statements. Many provincial and federal funding programs require grant recipients to submit audited financial statements as part of their reporting obligations.
Fraud prevention and detection. An audit reviews the controls around your financial processes, identifies weaknesses, and detects irregularities, protecting your organization from internal and external threats.
Why Organizations Need Audit Services
When do you need an audit?
- When required by a lender, investor, or grant agreement
- When required under the BC Societies Act or your organization’s bylaws
- When shareholders or board members require independent assurance
- When your organization is growing and internal controls need formal review
- When you’ve had staff turnover in financial roles and want to verify the integrity of your records
- When preparing for a business sale or succession
How Our Audit Process Works
Step 1 — Engagement Planning
We meet with you to understand your organization, your industry, your financial reporting requirements, and the scope of the audit. We issue an engagement letter confirming the terms, timeline, and fee.
Step 2 — Risk Assessment & Planning
Our audit team assesses areas of financial risk specific to your organization and designs procedures targeted at those areas. This ensures the audit is thorough where it matters most and efficient overall.
Step 3 — Fieldwork
We examine your financial records, test transactions, review internal controls, confirm balances with third parties where required, and gather the evidence needed to support our opinion.
Step 4 — Review & Discussion
Before issuing any report, we discuss our findings with management. If there are issues, you hear about them from us first — with context and practical recommendations.
Step 5 — Audit Report Issuance
We issue a formal audit report expressing our opinion on whether your financial statements are presented fairly, in all material respects, in accordance with Canadian accounting standards.
Step 6 — Management Letter
Alongside the audit report, we provide a management letter outlining any control weaknesses or operational observations — practical insights you can act on to strengthen your organization.
Audit & Assurance Services We Offer
Audit Engagements
The highest level of assurance. We examine your financial statements in detail and issue a formal opinion — the standard required by most lenders, regulators, and grant bodies.
Review Engagements
A cost-effective alternative to a full audit when limited assurance is sufficient. Common for smaller organizations and private companies where a full audit isn’t required but credibility is still needed.
Compilation Engagements
We compile your financial information into a formal set of financial statements without providing assurance — appropriate for internal use or where no independent verification is required.
Compliance Audits
Review of your organization’s adherence to specific regulations, grant conditions, or contractual requirements.
Internal Control Reviews
Assessment of your financial processes and controls — identifying gaps, recommending improvements, and reducing the risk of error or fraud.
Non-Profit Audits
Specialized audit services for registered charities, societies, and non-profit organizations, including reporting under ASNPO (Accounting Standards for Not-for-Profit Organizations).
Strata Corporation Audits
Annual financial statement audits for strata corporations in compliance with BC Strata Property Act requirements.
Frequently Asked Questions
What's the difference between an audit, a review, and a compilation?
hese are three levels of assurance. An audit provides the highest level — we independently test and verify your financial statements and issue a formal opinion. A review provides limited assurance through analytical procedures and inquiries, without the depth of an audit. A compilation involves organizing your financial information into statements without providing any assurance. The right level depends on who’s relying on your statements and for what purpose.
How long does an audit take?
For most small businesses and non-profits, fieldwork takes 3–7 business days, with the complete engagement (from kickoff to final report) typically taking 4–8 weeks. Timeline depends on the complexity of your organization and how organized your records are.
How much does a small business audit cost in BC?
Audit fees depend on the size and complexity of the organization, the state of the records, and the scope of work required. Most small business and non-profit audits range from $3,000–$10,000. We provide a detailed fee estimate after our initial consultation.
Do all incorporated businesses need an audit?
No. Most private corporations in BC are not legally required to have an audit unless it’s specified in their shareholder agreement, required by a lender, or mandated by a regulator or funder. However, many choose audits or review engagements for the credibility and governance benefits.
Are non-profits in BC required to be audited?
It depends. Under the BC Societies Act, the requirement to audit depends on your organization’s annual revenue and the provisions in your constitution. Many non-profits above a certain revenue threshold are required to have an audit or review engagement. We can help you determine what’s required for your organization.
Can you audit a company whose books you also maintain?
Under Canadian independence standards for assurance engagements, there are restrictions on auditing clients for whom you also perform significant accounting work. We’ll discuss independence requirements with you at the outset and structure the engagement appropriately.
What happens if the audit finds an error?
Errors and misstatements are a normal part of the audit process, finding them is the point. We’ll discuss any findings with management, determine whether corrections are required, and adjust the financial statements accordingly before issuing our report.
Can you help with a CRA audit?
Yes, though a CRA audit is a different process from a financial statement audit. If the CRA has selected your business for review, our tax team can represent you, compile the required documentation, and communicate with CRA on your behalf.