Toronto Accounting Firm Hogg, Shain & Scheck Professional Corporation Offers Risk Based Accounting Approach

Online, January 22, 2013 (Newswire.com) - A recent poll of Canadian small business owners indicated that only 61 percent of small businesses utilize an outside accounting service for their auditing and accounting requirements. Among the 39 percent of remaining entrepreneurs, who choose to keep their accounting solely within their company, 73 percent stated that they simply prefer to do their own accounting. Though these small business owners or their inside accountants may be fully competent in the financial field, they put themselves at a high risk of misrepresentation in regards to their financial information.

While the aforementioned misrepresentation may be completely unintentional, rescinded contracts could ensue, and ultimately lead to loss of clientele or damage compensation. In an attempt to help small businesses avoid this type of misfortune, Hogg, Shain & Scheck Professional Corporation provides accounting, auditing and tax services for Toronto and the Greater Toronto Area.

Ed Scheck, FCA with Hogg, Shain & Scheck Professional Corporation (www.hss-ca.com), explained, "A good accountant doesn't simply provide a financial statement at the end of each year and make sure you've met your compliance requirements. He or she should also be a trusted business advisor and provide efficient and cost-effective recommendations that will help strengthen your balance sheet and improve your bottom line. This outlook has helped us to become one of the most trusted accounting firms in Toronto."

"At Hogg, Shain & Scheck, we work hard to be that trusted advisor to our clientele of entrepreneurs and mid-sized businesses. We take a risk-based approach to audits and accounting by looking at everything from misstatements and management overrides to banking agreements and covenants. We are there for our clients throughout the year. We start early with preliminary meetings and interim testing, and proceed to preparing financial statements for the end of the year," Scheck emphasized. "When you become a Hogg, Shain & Scheck client, you gain the benefit of timely and thorough financial statements, as well as regular access to our partners and managers. With our low staff turnover rate, we are able to offer a consistent experience from one fiscal year to the next. We gain in-depth knowledge and insight into your operations and use this knowledge to become a trusted advisor to your business. We work across a wide range of industries and have a great deal of experience to offer, even in the most complex of accounting issues."