Accounting & Audit

Financial reporting is critical to the success of any business. We can help.

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At Stern Cohen, we appreciate that every client has unique requirements.
Tell us about yours.

Gain Confidence

Do you or other stakeholders want more confidence in the financial and operational health of your business or organization?

Businesses and not-for-profit organizations require timely and accurate financial reporting for decision making purposes. Whether you’re a business owner, CEO, CFO, Controller or Board Member, Stern Cohen can provide the guidance and services to assist with your financial reporting requirements.

Accounting Services

Our team provides a “one stop shop” or complete range of accounting services for businesses, corporations and nonprofits including:

  • Financial statement preparation
    • Audit
    • Review
    • Compilation (formerly Notice to Reader)
  • Tax planning
    • Identification of opportunities and prevention of issues
    • Restructuring
  • Tax compliance
    • Corporate, personal, trusts and estates
  • Advice and guidance
  • Commodity tax / Harmonized Sales Tax
  • Succession and estate planning
  • Outsourced accounting services
  • CFO duties
  • Bookkeeping & payroll services

Stern Cohen Expertise

We can help determine if an assurance engagement (audit or review) is required (or beneficial) and also assist with the establishment of internal accounting controls. Controls will help achieve operational effectiveness and safeguard against financial mismanagement and misappropriation of funds (or fraud).

Our audit and review procedures follow the protocols and practices required by Chartered Professional Accountants in Canada.  Our goal is to proactively identify, communicate and resolve any technical or operational issues that might lead to or may be causing business risks and failures.

Clients who have switched from other firms routinely tell us that our team members demonstrate a strong understanding of business risks, processes, systems and operations; not to mention, as public accountants, our wide familiarity with a range of business and organizational types and industries. Plus our clients appreciate our helpful and open style of communication.

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About your unique needs

Get the skinny on financial statements

In this article we look at the key differences between an audit, review and a compilation financial statement engagement as performed by a Chartered Professional Accountant (CPA).

Read the article
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Time to outsource your bookkeeping?

In this article we look at the benefits of outsourced accounting services for your business or nonprofit.

Read the article
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We have answers!

What kind of businesses does Stern Cohen work with?

We service businesses and with revenues approaching 1 million and up. Our clients benefit from a team of resources including tax, advisory, and bookkeeping without having to hire a full-time in-house CPA.

If it sounds like we’re a fit, drop us a line!

What kind of nonprofits does Stern Cohen work with?

We work with established not-for-profit organizations, charities and associations with budgets of 1 million and higher.

We are taking on clients who need internal accounting, bookkeeping, payroll and advisory services (we call it Stern Cohen FIT).

We are NOT taking on any new nonprofit audit clients at this time. We also do not provide short-term consulting services.

If you’d like to work with our nonprofit specialist team, please contact us!

Does my business need an audit or a review?

Business owners and organizational leadership may require an audit or review for the following reasons:

  • when planning for a new business venture
  • when seeking bank or other financing or when a current lender requires a financial statement
  • for retirement planning or the sale of a business
  • to meet a statutory or contractual requirement
  • to establish monitoring procedures

Learn more in our article featured above on this page.

What does assurance (from an audit or review) mean anyway?

Assurance can be provided by an independent Chartered Professional Accountant (CPA) who is able to form an opinion and conclude that a business’ financial statements are presented fairly. This opinion determines whether there is reasonable assurance that the statements are free from material misstatement and presented fairly under the applicable accounting frameworks.

Learn more in our article featured above on this page.

What are the benefits of an audit or review?

The benefits of an audit or review engagement are different depending on the situation. Here are several common benefits that will give you a good return on your investment for this service:

  • increased financial reliability and integrity
  • the ability to negotiate financing or improved financing terms with lenders
  • peace of mind for business or organization stakeholders (investors, bankers, owners, leadership or board members)
  • higher business sale value (if you are intending to sell your business)
  • improved operational efficiency
  • improved shareholder relations
  • assessment of staff / employees so that training can be provided if needed
  • opportunities for cost savings

Learn more in our article featured above on this page.

Why is assurance (in the form of an audit or a review) required?

In very basic terms, assurance is sought by business owners who want confidence in the financial state of their business. Business owners may also require financial statements for their investors, shareholders, banks, creditors, or potential buyers. The most famous assurance scandal was Enron, when in 2001 it was discovered that its reported financial condition was fraudulent.

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Client Reviews

Selecting an accounting firm is an important decision. We think our clients’ testimonials will provide you with some reassurance.

More reviews
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“I have nothing but excellent things to say about every member of Stern Cohen (“SC”) with whom our organization has had the pleasure of dealing with. Our company has grown 12x in 3 years and SC has helped with every step along the way. They started with excellent bookkeeping services and also performed a multi-year audit in their first engagement with us. They have helped with consultation and advise on matters ranging from US tax to government incentive programs, and long-term incentive treatments. They can handle any size firm with any range of issues.”

Bruno Kaiser CFO

“Laura Gay’s customer service and our relationship working with her has always been positive. She regularly presents to our board and provides support to our Audit and Finance committee.”

Bree Grenon Senior Manager, Member Relations & Operations

“Outstanding results and intelligent, practical advice. Informative and accurate monthly packages that help us to make the right decisions. Higher level tasks (such as Review Engagement year end statements) effectively carried out and well worth the investment in Stern Cohen’s capable hands.”

Darren Firth CEO

“Our team at Stern Cohen is extremely responsive, professional, knowledgeable and absolutely lovely to work with. They help me sleep better at night, knowing we’re in excellent financial hands. Top notch!”


Other Services

Bookkeeping and Virtual CFO

Pay less than hiring in-house with better service, deeper expertise, and greater value!

Business Advisory

We’re looking at the big picture and a comprehensive plan for your business.

Estate Planning & Trusts

Out Tax Partners are designated Trust and Estate specialists. You'll benefit from their expertise.


We handle business tax. Our team of tax specialists get rave reviews.