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The world of negative assurance

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Our company has been helping clients with their accounting needs for many decades now. We offer a diverse range of services because each client requires something different from us. For example, we can provide the finest help for auditing Stratford has to offer.

One crucial part of the auditing process is negative assurance. This is a determination by auditors that a certain set of facts is believed to be true. The reason for this is that there is no evidence to dispute the info. Auditors use this in scenarios where you can’t confirm the financial reports are true. The intent here is to find out that there is no evidence of fraud. In addition, it aims to prove there are no violations of legal accounting practices.

No positive assurance

Auditing StratfordNegative assurance tends to pop up when there is an absence of positive assurance. Here the auditor will have done enough work to prove that the records offer a truthful picture of the financial state based on proofs.

Positive assurance is vital for some audited financial reports. These are ones that public companies release. Auditing a public business in line with accounting principles is not easy. Due to this, you would normally issue positive assurance only if it is legally necessary. If you require the best services for auditing Stratford can provide, please contact our team.

When do you issue negative assurance?

Usually, you would issue negative assurance when accountants must review certified finance statements. These are ones from an accountant. In this case, the assurance is typically enough to prove that the statements do not have any material misstatements. This is because the accountant has already proven the accuracy.

In addition, you can issue negative assurance in another situation. This is when accountants must review statements that link to the issuance of securities.

To issue negative assurance options, accountants need to gather audit evidence. They might not depend on indirect sources alone. This is the kind of info brought forth by third parties.

The processes people use while preparing negative assurance options are not that rigorous. This is definitely true when you compare to ones for positive assurance.

One last detail to note is that negative assurance is not claiming that illegal acts did not happen. Instead, it is telling you that auditors were not able to locate any cases of the activity.

Call us for auditing in Stratford

At Brian G Lonis & Co, we are proficient in all areas of accounting. We have a reputation for supplying first class services and some of the best advice. Our team aims to help every client, regardless of whether they are personal clients or businesses.

So, please let us know if you require the most reliable auditing Stratford can offer. You can rely on us to offer a great service and useful advice about your finances.