What Are the Top Accounting Firms in Canada?

 

 

Canada is amongst just a handful of countries on Earth that has a relatively stable and somewhat stagnant economy that often seems unhindered by global economic and financial crises. This is largely due to the fact that Canada is one of the few places in the world that is not overly populated, and can afford to provide almost all its citizens with a high-quality standard of living.

Canada also has a very stable currency. This makes it an attractive country for investors and businessmen alike. A stable financial market means less risk when it comes to conducting business and trade. It’s government has likewise always encouraged small business development and growth by providing many incentives, small business loans, grants, and subsidies to small businesses and entrepreneurs.

 

What About Accounting in Canada?

 

When it comes to Accounting policies and procedures, Canada has a variety of accounting standards; Some of the accounting standards used by companies in Canada are:  International Financial Reporting Standards (IFRS), Accounting Standards for Private Enterprises (ASPE), and NON-GAAP reporting standards that are predominantly used for tax purposes.

Coming off the tail-end of a pandemic-stricken economy, it is now more important than ever for businesses to rethink their strategies for the post-pandemic area,with the cost of borrowing on the rise. With Covid-19 leaving devastation in its wake, businesses need to accept that they may no longer experience the growth and progress they were experiencing pre-pandemic.

Reliable accounting services will always be of paramount importance for entrepreneurs and business owners alike in Canada. The right accounting firm can not only help your business save time and costs but also assist in offering insights on how to better improve overall efficiency and the business’s bottom line.

 

So, let’s take a look at some firms that have solidified their place as the top accounting firms in Canada.

 

The Top 5 Accounting Firms in Canada

 

BLC GROUP

Bottom Line Consulting Group is one of Ontario’s and Montreal Canada’s pioneer online Accounting and small business consulting firms. They provide their clients with the best services at phenomenal prices.

Nixon Blake is one of the Managing Partners of the small business consulting and accounting firm that specializes in offering online accounting, small business and startup advisory, business registration, incorporation, business and self-employed tax services, CRA representation, business plan writing and bookkeeping services. All of their accountants and professionals are highly qualified and have decades of experience in dealing with all arrays of business and accounting procedures.

BLC Group can help organizations file harmonised sales tax (HST) and goods and services tax (GST) which is applied in Canada for almost all transactions of goods and services. They also have customized accounting solutions for medium to large-sized businesses. The accountants at BLC Group are some of the most highly competent and sought-after accountants in Canada. This is why the firm also provides consultancy services for Canadian organizations to help steer their business in the right direction.

 

 Deloitte Canada LLP

 

Deloitte, Canada, is an accounting firm that is headquartered out of London, England. Deloitte is one of the big four accounting organizations that serve the international market’s accounting needs. William Welch Deloitte founded the organization in 1845 and in 1989 the accounting firm merged with Touche Ross to form Deloitte & Touche.

The company has a long history of serving the European and North American markets before expanding into Asia. This is one of the few accounting firms to have such a time honoured existence in the field.

Deloitte provides financial advice, risk, tax, audit, and assurance services to its commercial clients. They have accounting solutions for startup firms as well as organizations that are industry leaders.

 

KPMG (Toronto)

 

The name KPMG comes from the names of the company’s two original partners; Klynveld Main Goerdeler and Peat Marwick. KPMG is also one of the big four accounting firms of the world offering accounting services in 147 countries. The foundations of this organization date back to 1818.

They have more than 40 office locations within the borders of Canada. It is also widely renowned as being one of the biggest and best organizations in the world for auditing services. Additionally, they have specialist advisors in the field of tax.

KPMG buildings and offices within Canada and the United States are often found in some of the most prominent buildings in the city often located in prestigious locations.

They help businesses better understand complex and business-critical transactions. Offering a long line of services that are competitively priced.

 

 PricewaterhouseCoopers (PwC)

 

PwC is one of the big four accounting firms in the world, let alone Canada. PwC’s roots date back to the mid-18th century but the name as we know it now, was first established in 1960. Today, the company has more than 7,300 partner firms in Canada with offices stretching from coast to coast.

PwC provides its clients with tax, risk assurance, audit, and assurance services among many others. Their global presence helps them deliver services to business clients of all specializations, niches, and sizes. Often considered as a more exclusive accounting firm, PwC services some of the largest companies in the world.

 

Ernst & Young

 

Ernst & Young or EY as it is more commonly known, is an accounting firm with a history that dates back over 150 years. This accounting firm is famous for working directly with the owners of some of the biggest organizations in the US and Canadian markets. They offer their clients customized accounting solutions based on their requirements and are well-respected both in national and international markets.

Not only does EY have a presence in delivering services in the private sector but they also incorporate solutions for government organizations around the world. This organization has received many awards from Forbes, Fortune 500, and Bloomberg. EY offers business risk, tax, audit, security risk, and technology solutions to its worldwide clients. EY has its headquarters in Toronto, Canada.

 

A company that is entry-level in the market needs to make sure that its goods and services are tailored to meet the demands of its prospective clients. Similarly, a company that has been in the market for a significant period of time will have multiple corporate clients with extensive accounting demands. It might be a challenge for both of these organizations to find reliable accounting solutions based on their specific needs.

Choosing local has its own advantages especially if you have a small to medium-sized business that requires the need for an accounting specialist. Business organizations employed in a specific industry will also need their accountants to have knowledge of their trade specialization. The most successful accounting organizations are the ones that can handle all the diverse demands of the market, government, and your specific business.

If you’re looking for the top accounting firm in Toronto, Mississauga, Oakville, GTA, Ontario to handle your small business finances and strategy, look no further than the expert team at BLC Group. Book your no-hassle-free consultation with us today!

 

 

 

 

Nixon Blake MBA, LL.M, MSc, CIMA, CPA is an accomplished and visionary business leader with a track record of transforming ingenious ideas into thriving businesses. He is best known for his remarkable strategic insights and exceptional leadership style. As the founder and CEO of Bottom Line Consulting and with over two decades of experience in the corporate world, he has propelled his company to new heights and has consistently delivered outstanding results.

With an avid eye for market trends and a passion for excellence he has successfully navigated complex challenges and fostered a culture of innovation. With his visionary approach and deep understanding of market dynamics, Nixon continues to shape industries and leave an indelible mark on the business world.