Government Accounting
Welch’s full range of accounting services, supports government sector leaders so they can support their communities. Welch’s government accounting team has conducted more than 2,000 audits for government agencies and departments.
Welch’s familiarity with the legislative environment of the public sector accounting standards, as well as our work with diverse government departments and agencies, has provided us with an in-depth understanding of major public sector legislation and publications, including The Financial Administration Act, Receiver General Directives/Bulletins, updates to the Public Accounts Manuals, the Appropriation Act and Treasury Board Guidelines for audits and reporting.
What We Do
Compliance Audit
- Recipient audits
- Contributions audits
- Contract compliance for complex infrastructure
- Value-for-money audits
Internal Audit
- Program performance audits
- Control framework audits
- Value for money audits
Contract Cost Audit
- Contract compliance
Lease Audit
- Lease compliance
Forensic Audit
- Special investigations
- Forensic investigations
- Fraud risk assessments
Financial Statement Audit
- Audits, review engagements, compilations
- Financial statement audits for government-controlled entities
- PSAB, PSAS and PSAS + 4200 expertise
- Component audits for large public sector entities
- Expert financial support
- Expert witness support
- Arbitration/ mediation support
- Business interruption claims
- Loss/damages quantification
- PASS supply arrangement (streams 1, 5, 8)
- Temporary help services (THS)
- Professional services (PS) online
- Internal control policy reviews
- Financial policy reviews
- Risk-based internal audit plans
- Governance reviews
- Financial oversight frameworks
- Financial controls
- CFO certifications
- Due diligence reviews
- Fund Administration
Team Members
Related Resources
Canada’s Institutional Capacity: Exploring Implications in a Complex World
January 17, 2024 – Canada’s Institutional Capacity: Exploring Implications in a Complex World- as we delve into the dynamics of Canada’s political and business institutions and their impact on the state of the economy.
Federal Budget Commentary 2023
March 29, 2023 – On March 28, 2023, the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, presented Budget 2023 – A Made-in-Canada Plan: Strong Middle Class, Affordable Economy, Healthy Future, to the House of Commons.
Ontario Budget Commentary 2023
March 24, 2023 – On March 23, 2023, the government presented its Ontario Budget 2023 – Building a Strong Ontario. The budgetary deficit for 2022-2023 is projected at $2.2 billion, decreasing to $1.3 billion in 2023-2024, before returning to surpluses of $0.2 billion in 2024-2025 and $4.4 billion in 2025-2026.
AI in the Workplace
February 06, 2023 – Language AI like ChatGPT is an innovative tool that has the potential to revolutionize the way the accounting and finance functions operate. The use of AI in the public sector can lead to increased productivity, improved stakeholder experience, and reduced workload for employees.
Private Enterprise Accounting and Tax Update 2022
October 06, 2022 – Gain insight for the year ahead with our Virtual Annual Private Enterprise Accounting & Tax Update Webinar.
2022 Ontario Budget Commentary
April 29, 2022 – On April 28, 2022, the Ontario government presented its 2022 Budget – Ontario’s Plan to Build. This document includes insight into measures that affect individuals, businesses, and more.
Federal Budget Commentary 2022
April 08, 2022 – On April 7, 2022, the Federal Budget was released by Finance Minister Chrystia Freeland. In it are new spending plans to help boost the economy, encourage innovation, and make life more affordable.
Ontario Regional Opportunities Investment Tax Credit
August 30, 2021 – The Regional Opportunities Investment Tax Credit (ROITC) was created to help support business investment, economic growth and job creation in regions in Ontario that lagged in employment growth between 2009 and 2019.
New Stock Option Rules (Bill C-30) effective July 1, 2021
July 26, 2021 – On June 29, 2021 Parliament passed legislation (Bill C-30) to implement measures from the 2021 Federal Budget. One of those measures is a long-anticipated change to the employee stock option deduction limit for stock options issued by non-CCPC’s, whereby the 50% stock option deduction will be limited to $200,000 worth of shares.
Technology Risk Management – Our Welch Risk Advisory Team can help
May 04, 2021 – Over the last decade, the reduced cost and ‘ease of use’ of technology has led small and medium business and organizations to make incremental or radical changes to the way they do business. Senior management is becoming more familiar and experienced with both the opportunities and dangers present in the ever-changing world of technology.
Federal Budget Commentary 2021
April 20, 2021 – On April 19, 2021, the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, presented Budget 2021 to the House of Commons. No changes were made to personal or corporate tax rates (other than a temporary measure for zero-emission technology manufacturers), nor to the inclusion rate on taxable capital gains.
Use it or Lose it. Significant CEWS Claim Deadline Approaching on January 31, 2021
January 19, 2021 – Employers who suffered revenue declines were eligible to receive the subsidy which is calculated based on wages paid to employees working in Canada (it also applies to furloughed employees employed in Canada).
Are You Ready To Talk To A Government Specialist?
Get in touch, tell us your needs and we’ll assign an industry specialist to your organization.
