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Our firm offers a wide range of services to our individual and business clients. Our clients benefit from personalized, quality service that is beyond comparison. We have listed the services that we offer to our clients, together with a brief description. As the list below is by no means comprehensive, please feel free to inquire about a service if you do not see it listed.
Accounting Services
Accounting ServicesProviding financial information to our clients in a timely and accurate manner is a commitment that we feel cannot be compromised. Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis. Our firm provides a full range of cost effective accounting services including the following:
*General ledger & financial statement preparation
*Bookkeeping (Monthly/Quarterly/Annual)
*Accounting system setup for new businesses
*Compilation of financial statements
*Audits and reviews Audits, Reviews and CompilationsWe view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company's profitability and efficiency. We provide financial reporting on all three levels of assurance:
*Audit - an intensive examination with the highest level of assurance
*Review - some analytical procedures conducted with limited assurance
*Compilation - based upon client information provided and used primarily for internal use. Cash Flow & Budgeting AnalysisA business can be profitable and still run into trouble due to cash flow issues. We can forecast and evaluate your company's financial condition, estimate financing requirements, and track cash-flow sources and uses. Financial Forecasts & ProjectionsForecasting is a necessity when trying to effectively manage and lead a business to profitability. From simple projections to complex financial modeling, our experienced staff can assist you in achieving your company's financial goals. Financial StatementsWe can assist you in the preparation of your financial statements in accordance with professional standards, but express no opinion or any other form of assurance on the underlying information included in them. The financial statements produced can be a useful tool for management for making financial decisions. Consulting Services
Business ConsultingWe gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business. Business Succession PlanningEffective transition of your business to your successors is critical to its continued prosperity. With a solid background in tax, succession and estate planning, and other financial matters, we are fully qualified to address the complex issues of business continuation. Business ValuationsA professional and objective business valuation is a necessary component of many transactions, such as purchase, sale or reorganization of a business, shareholder and partnership agreements, matrimonial settlements, or estate proceedings. Our experienced team will provide you with an objective and accurate valuation of your business assets and goodwill. Consulting ServicesWe gauge our worth by the personal and business successes of our clients. We can help your business identify areas negatively affecting profitability and growth and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business. The following are just a few of the areas in which we provide consulting services:
*Accounting software selection and implementation
*Business valuations
*Buying/selling a business
*Business process improvement
*Computer systems
*Financial & retirement planning
*Estate planning Estate PlanningEffective estate planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order. Financial PlanningA properly structured financial plan enables you to face any financial challenge that may present itself at each stage of your life. Through the financial planning process, we can help you assess your financial needs and develop strategies that will enable you to achieve your goals and strengthen your financial security. Fraud Prevention & DetectionWe use accounting and auditing skills to provide an analysis of financial records in conjunction with fraud and theft investigation. Our damage measurement methods can determine the extent of financial loss and illegal accounting practices. Investment ReviewAs you develop your investment strategy, we will act as your sounding board. We can help you and your investment advisor structure an investment portfolio that takes into consideration the impact of taxes and produces a favorable after-tax return. Management Advisory ServicesEven the most qualified managers can benefit from competent, objective feedback. We can help your company's management team develop long-term objectives and specific strategies to facilitate your business' future growth and success. Purchase and Sale of a BusinessPreparation and planning are key to the successful purchase or sale of a business. Our team can assist you with all aspects your transaction, including valuation, cash flow analysis, tax minimization and transition planning. Retirement PlanningSuccessful implementation and periodic review of your financial plan will ensure financial independence during your working years and through your retirement years. Other Services
Corporate RecoveryMany promising businesses experience periods of financial stress. Our team of professionals can help you identify opportunities and risks, and assist with restructuring, refinancing, cash management and other services to help you put your business back on a sound financial footing. Mergers & AcquisitionsFinding the right business partner for your company can be a difficult task. We can assist you in the merger or acquisition process by assessing such critical elements as tax considerations; product/service compatibility; competitive tactics and position; financial impact; and cash flow considerations. Personal Debt ManagementPersonal debt in Canada stands at a record high, and it is not unusual for individuals to experience temporary financial difficulties. We can help you recover your financial health by developing strategies for orderly retirement of debt, or, if necessary, implementing a personal bankruptcy. Our approachable staff will be happy to outline options, and explain what is involved. Privacy PolicyFletcher Mudryk & Co. LLP collects, uses and discloses personal information in the possession, or under the control, of its clients to the extent required to fulfill its professional responsibilities and operate its business. The firm is committed to maintaining the privacy of personal information provided by its clients and protecting all personal information in its possession or control. This Privacy Policy sets out the principles and procedures that the firm follows in meeting its privacy commitments to its clients and complying with the requirements of federal and provincial privacy legislation.
Principle #1: The firm is accountable for personal information in its possession or control.
- The firm is accountable for all personal information in its possession or control. This includes any personal information that the firm received directly from clients who are individuals, or indirectly, through clients that are organizations (e.g., corporations, government entities, not-for-profit organizations).
- The firm has:
- established and put into effect policies and procedures aimed at properly protecting personal information;
- educated its partners and employees regarding its privacy policy and their role and responsibilities in keeping personal information private; and - appointed its Chief Privacy Officer to oversee privacy issues at the firm.
Principle #2 The firm identifies the purposes for which it collects personal information from clients before it is collected.
- The firm collects personal information from clients and uses and discloses such information, only to provide the professional services that the client has requested. Each service the firm provides is described in an engagement letter with the client. The engagement letter includes a description of the personal information the firm will require, why it is required, the uses that will be made of the information, and with whom it may be shared in the course of providing the firm’s professional services. - The personal information collected from a client during the course of a professional service engagement may be:
- shared with the firm’s personnel participating in such engagement; - disclosed to partners and employees within the firm to the extent required to assess compliance with applicable professional standards and rules of professional conduct, and the firm’s policies, including providing quality control reviews of work performed; - disclosed to members of the organization’s audit committee and board of directors, and others in the company that might not otherwise have access to the information, in the course of communicating aspects of the results of our audit; and - provided to external professional practice inspectors (e.g., representatives of the Canadian Public Accountability Board, or a provincial institute of chartered accountants), who by law, professional regulation, or contract have the right of access to the firm’s files for inspection purposes.
Principle #3 – The firm obtains a client’s consent before collecting personal information from that client.
- Before the firm undertakes a professional services engagement, it requires the prospective client to sign an engagement letter or contract. The engagement letter or contract includes a description of the personal information the firm will require, why it is required, the uses that will be made of the information, and with whom it may be shared in the course of providing the firm’s professional services. By signing the engagement letter or contract, the client provides its agreement that proper consents to the collection, use and disclosure of personal information as set out in the letter have been or will be obtained (the consent of the individual is the responsibility of the client not the auditor).
Principle #4 – The firm collects only that personal information required to perform its business, and such information is collected by fair and lawful means.
Principle #5 – The firm uses or discloses personal information only for purposes for which it has consent, or as required by law. The firm retains personal information only as long as necessary to fulfill those purposes.
- As required by professional standards, rules of professional conduct and regulation, the firm documents the work it performs in records, commonly called working paper files. Such files may include personal information obtained from a client.
- Working paper files and other files containing, for example, copies of personal tax returns are retained for the time period required by law and regulation, including Rules of Professional Conduct.
- The firm regularly and systematically destroys, erases, or makes anonymous personal information no longer required to fulfill the identified collection purposes, and no longer required by laws and regulations.
Principle #6 – The firm endeavours to keep accurate, complete, and up-to-date, personal information in its possession or control, to the extent required to meet the purposes for which it was collected.
- Certain customer and other information is used to form an opinion in an audit and needs to be accurate to be relied upon, as a result, updating the information is encouraged on an annual basis.
Principle #7 – The firm protects the privacy of personal information in its possession or control by using security safeguards appropriate to the sensitivity of the information.
- Physical security (e.g., restricted access, locked rooms and filing cabinets) is maintained over personal information stored in hard copy form. Partners and employees are authorized to access personal information based on client assignment and quality control responsibilities.
- Authentication is used to prevent unauthorized access to personal information stored electronically. Encryption is used to prevent unauthorized access to personal information received or sent over the Internet. - No files and other materials containing personal information are entrusted to a third party service provider.
Principle #8 – The firm is open about the procedures it uses to manage personal information.
- Up-to-date information on the firm’s privacy policy can be obtained from the firm’s Privacy Officer (see contact information under principal l).
Principle #9 – The firm responds on a timely basis to requests from clients about their personal information which the firm possesses or controls.
- Individual clients of the firm have the right to contact the engagement partner in charge of providing service to them and obtain access to their personal information. Similarly, authorized officers of employees of organizations that are clients of the firm have the right to contact the engagement partner in charge of providing service to them and obtain access to personal information provided by that client. In certain situations, however, the firm may not be able to give clients access to all their personal information. The firm will explain the reasons why access must be denied and any recourse the client may have, except where prohibited by law.
Principle #10 – Clients may challenge the firm’s compliance with its Privacy Policy.
- The firm has policies and procedures to receive, investigate, and respond to clients’ complaints and questions relating to privacy.
- To challenge the firm’s compliance with its Privacy Policy, clients are asked to provide an email message or letter to the firm’s Privacy Officer (see contact information under principle 1 above). The firm’s Privacy Officer will ensure that a complete investigation of a client complaint is undertaken and will report the results of this investigation to the client within 30 days.
- If you have any questions about the firm’s privacy policies and practices, the firm’s Privacy Officer can be reached by email at karismith@fletchermudryk.com, by phone at 780 539-4110 and by letter to 400, 9835 – 101 Avenue, Grande Prairie, Alberta T8V 5V4. Tax Services
Estate & Trust Tax PreparationEffective estate planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due on the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order. Federal and Provincial Sales Tax (GST, HST, PST and QST)Many of our clients are responsible for collecting and submitting sales taxes in many different jurisdictions. We can assist your company in the compilation of information and preparation of sales tax returns, and in controlling your sales-tax-related costs. Payroll ServicesAs a business grows, it must hire more employees, which can result in increased payroll administration. We can assist you in implementing the controls necessary to ensure a reliable, efficient, and effective payroll system. Our firm can also help you develop a payroll system and prepare all necessary payroll tax returns in a timely manner. Tax Planning & PreparationTax planning and preparation form a winning combination for our successful individual and business clients. Our experienced staff can develop tax-minimization strategies to optimize your after-tax position. Tax ServicesWe prefer to take a proactive vs. reactive approach to tax services. By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities. We provide our individual and business clients with the taxation expertise and knowledge that they deserve throughout the year. Tax services offered include, but are not limited to:
*Tax planning for individuals and corporations
*Return preparation for
- Individuals
- Corporations
- Estates and trusts
- Not-for-profit organizations
*Provincial and federal commodity tax planning and compliance
*Tax considerations in matrimonial settlements
*Tax effects of buying/selling a business
*Tax effective retirement and estate planning |